July 2025 Dane County single family home update

Madison area home prices rose for all 3 measures in July, while new listings and accepted offers were roughly even compared to July of 2024. Here's our transparent view of the July Dane County single family home market, along with our review of the first 7 months of 2025. 

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

Dane County home prices 

July Madison area home prices

• The price per square foot grew from $248 in July of 2024 to $268 in July of 2025, an increase of 8 percent. 
• The median price increased from $493,622 to $505,000, up 2 percent.  
• The average price moved higher from $571,077 to $610,492, up 7 percent. 

Year-to-date home prices through July

• The price per square foot grew from $240 in the first 7 months of 2024 to $254 in the first 7 months of 2025, an increase of 6 percent. 
• The year-to-date median price was even compared to 2024 -- $480,000.
• The year-to-date average price grew from $537,696 to $566,669, an increase of 5 percent. 

New listings 

A total of 583 Dane County single family homes were listed for sale in July, down 2 percent from 595 in July of 2024. Note from the chart below that new listings have been subdued for each of the last 4 summers, coinciding with interest rates moving higher in the summer of 2022. 

Through the first 7 months of the year, Madison area single family home listings are up 3 percent from the first 7 months of 2024. 

Accepted offers

A total of 449 Dane County single family homes went under contract in July, just below the 450 from July of 2024. Through the first 7 months of the year, accepted offers are lower by 3 percent. 

Dane County home supply

Inventory has been steadily increasing over the last two years. A total of 826 Madison area homes were available for sale (without an accepted offer) on August 6th. As the chart below shows, inventory is up 28 percent from the 643 listings on 8/6/2024, and 70 percent from the 486 listings on 8/5/2023. 

This is a positive development for buyers, who are seeking more selection and fewer bidding wars in Dane County's competitive market. Still, we have only 2 months of supply available across the whole county. We would love to see inventory grow to over 1,000 homes in the year ahead. 

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 Dane County inventory has grown, competing offers have decreased, and are getting closer 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 pre-pandemic market). 

According to our preliminary numbers for offers accepted in the month of June, 37 percent of all contract signings involved multiple offers. Compare this to: 

• 35 percent in June of 2024 (black line in chart below) 
• 44 percent in June of 2023 (green line in chart below) 
• 32 percent in the June 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 buyers, have success in our late summer market. 

Days on market

Marketing times are gradually increasing as inventory rises. In July, the average days on market was 25 days, up from 19 days in July of 2024. Through the first 7 months of the year the average was 29 days, up from 26 days the year before. 

Dane County home sales

A total of 501 Madison area homes sold via the MLS in July, down from 541 the year before. Through the first 7 months of the year, home sales are essentially even with home sales from the first 7 months of 2024. 

Expired listings

Through the first 7 months of the year, a total of 433 single family home listings expired without selling, up from 381 expired listings the year before. Expired listings are gradually increasing with the rise in inventory, but remain very low by historical standards. 

The big picture

Increasing inventory is creating more opportunity for buyers in our late summer market. At the same time, many sellers are learning that they need to have a good plan in place for their home prep, staging, marketing, and pricing in order to achieve a successful sale.

Market conditions can vary a lot by price range, property type, and location -- so working proactively with a professional is always a good first step toward attaining your real estate goals. Call us when you need some guidance and honest advice. We'd love to be a resource for you.