Home and condo prices rose again in July as the seller's market continued in Madison. Here's a brief market summary for the month of July.
Madison Single Family Home Market
The price per square foot rose from $146 in July of 2017 to $158 last month - a record high for the single family home market. July home prices rose 8% year-over-year and 11% year-to-date.
The days on market statistic also set a new record in the month of July - reaching a new low of only 22 days. On a year-to-date basis, the days on market averaged only 32 days, which is also a record low.
Months of supply continued to trend along historically low levels. This snapshot taken a few days ago shows there are only 1.8 months of inventory in the Madison single family
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