We've just completed our mid-year home and condo updates, and the latest numbers show the seller's market is alive and well in the city of Madison. Here's our quick overview of the latest trends in the Madison real estate market.
The Madison condo market
Madison condo supply is historically low and driving prices higher. Take a look at the graph below, which shows how the number of available condo listings has changed from July, 2015 to July, 2018. Amazingly, active condo listings have decreased by 48% over the last 3 years.
Over the same 3-year stretch condo supply has dipped to well below 2 months of inventory. This historically low number is indicative of a very strong seller's market.
Condos are also selling much more quickly…