August 2025 Madison area single family home report

Dane County home prices rose for all 3 measures in August, as inventory continued to grow. Here's our transparent view of the August Madison area single family home market, along with our review of the first 8 months of 2025. 

Note all of our statistics are sourced from the South Central Wisconsin MLS database. 

Dane County home prices 

August Madison area home prices

• The price per square foot grew from $244 in August of 2024 to $252 in August of 2025, an increase of 3 percent. 
• The median price increased from $473,500 to $495,000, up 5 percent.  
• The average price moved higher from $558,471 to $578,118, up 4 percent. 

Year-to-date home prices through August

• The price per square foot grew from $241 in the first 8 months of 2024 to $253 in the first 8 months of 2025, an increase of 5 percent. 
• The year-to-date median price edged higher from $480,000 to $482,000 -- up four-tenths of a percent.
• The year-to-date average price grew from $540,897 to $567,183, an increase of 5 percent. 

New listings 

A total of 492 Dane County single family homes were listed for sale in August, down 7 percent from 530 in August of 2024. Note from the chart below that new listings have been subdued for each of the last 4 summers, coinciding with mortgage rates moving higher in the summer of 2022. Also note the number of new listings for each of the last 4 months of August are lower than the listing totals for any other month of August since the year 2000.

Through the first 8 months of the year, single family home listings are up 2 percent from the first 8 months of 2024. 

Accepted offers

A total of 426 Madison area homes went under contract in August, up 4 percent from the 410 in August of 2024 and August of 2023. Through the first 8 months of the year, accepted offers are lower by 2 percent. 

Dane County inventory

Home supply has been steadily increasing over the last two years. A total of 860 Madison area homes (or 2.1 months of supply) were available for sale on September 5th. 

As the chart below shows, inventory is up 20 percent from the 719 listings on 9/6/2024, and up 98 percent from the 435 listings on 9/12/2023. With increasing supply we are trending toward a more balanced market, which is a welcome development for buyers. Buyers will continue to experience less competition and a more reasonably-paced market as supply continues to grow. Sellers, on the other hand, will need to understand that today's market is more mellow compared to the market during the COVID era. 

Keep in mind that market dynamics and months of supply can vary a lot from one neighborhood to the next. Some local neighborhoods have less than one month of supply available right now, while others are in the range of 4 to 6. It's always a good idea to consult with a professional, who can help you understand how local market conditions are likely to impact your specific buying and selling goals. 

Competing offers

As Madison area inventory has increased, competing offers have decreased, and are now very close to pre-pandemic levels. Note from the chart below that the orange line (2025 competing offers), is trending closer to the blue line (competing offers in the 2019 pre-pandemic market). 

According to our preliminary numbers for offers accepted in July of 2025, 28 percent of all contract signings involved multiple offers. Compare this to: 

• 32 percent in July of 2024 (black line in chart below) 
• 39 percent in July of 2023 (green line in chart below) 
• 26 percent in the July 2019 pre-pandemic market (blue line in chart below) 

Also from the chart you can see that competing offers follow a seasonal pattern each year, peaking in the springtime, followed by a steady decline throughout the remainder of the year. This means a window of opportunity is opening up right now for buyers who are seeking a less competitive landscape. Our team is helping a number of buyers, especially first-time home buyers, find the right opportunity in our early fall market.

Days on market

Marketing times are gradually increasing as inventory continues to rise. The average days on market in August was 29 days, up from 22 days in August of 2024. Through the first 8 months of the year, the average days on market was also 29 days, up from 25 days through the first 8 months of 2024. 

Dane County home sales

A total of 477 Madison area homes sold (closed) in August, down 9 percent from the 526 home sales in August of 2024. Through the first 8 months of the year, home sales are down 1 percent from the year before. 

Expired listings 

Through the first 8 months of the year, a total of 525 Dane County single family home listings expired without selling, up from 473 expired listings the year before. Expired listings are gradually increasing with the rise in inventory, but remain low by historical standards. 

The bigger picture

Dane County has clearly transitioned out of an over-heated pandemic market into a market where buyers and sellers are on a more level playing field. Now buyers have more homes to choose from and more time to view properties and make an offer. Another plus for buyers: mortgage rates just dropped and are now at the lowest levels of the year. The fall market is an excellent time for buyers to be actively engaged with their search. 

For sellers, we're returning to a market where the fundamentals really do matter. Pricing, staging, and marketing expertise are essential for the seller whose goal is to sell their home quickly and for the highest possible price.