Madison area condo market trends for November, 2025

Dane County condo prices were mixed in November -- increasing for one of our measures and decreasing for two others. Here's our deep dive into the November Madison area condo market, along with our year-to-date review of the first 11 months of the year. 

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

Dane County condo prices 

November Dane County condo prices

• The price per square foot decreased from $225 in November of 2024 to $207 in November of 2025, down 8 percent. 
• The median price decreased from $308,000 to $297,500, down 3 percent.  
• The average price increased from $345,065 to $351,337, up 2 percent. 

Year-to-date condo prices through November

• The price per square foot grew from $228 in the first 11 months of 2024 to $233 in the first 11 months of 2025, an increase of 2 percent. 
• The year-to-date median price grew from $308,000 to $325,000, up 6 percent.  
• The year-to-date average price grew from $346,302 to $365,670, an increase of 6 percent. 

Some notes on prices

The November prices are based on 74 closings, a low number of sales due to the time of year. It's not unusual in months with lower sales to see large swings in the price data. A few high-priced or low-priced sales can have a big impact on the numbers. For this reason, it's best to focus on the overall trend, rather than any individual month, when evaluating local prices. 

We are forecasting Madison area condo prices to increase by 2 to 4 percent in the coming year. For more of our 2026 predictions, check out our recent blog post here. 

New Dane County Condo listings 

A total of 86 Madison area condos were listed for sale on the MLS in November, up 13 percent from 76 listings last year. Year-to-date, condo listings are up 3 percent from the first 11 months of 2024. 

Accepted offers

A total of 94 Dane County condos went under contract in November, down 3 percent from the 97 accepted offers the year before. Through the first 11 months of 2025, accepted offers are essentially even with last year. 

Dane County condo inventory 

A total of 275 Madison area condos were available for sale (without an accepted offer) on 12/5/2025. This supply level is 37 percent higher than the supply level from a year ago, and 170 percent higher than the inventory level from 2 years ago. 

We do expect the supply of Madison area condos to grow at a moderate pace in 2026. The trend toward more supply is a healthy development for our local condo market. 

Competing offers

According to our preliminary numbers for the month of October, 24 percent of all contract signings involved multiple offers. The chart below shows that competing offers this year (represented by the orange line) are trending below the peak year for competing offers (2021, represented by the green line).

The trend toward less competition is a sign that we're moving toward a more balanced and sustainable condo market here in Dane County. 

Expired listings

Expired listings (those that do not result in a sale) are trending higher in 2025, which is another sign of a more balanced condo market. Through the first 11 months of the year, a total of 243 Dane County condo listings have expired without selling. This is the highest level we've seen since 2017, when there were 247 expired condo listings. 

Note from the chart below that our current level of expired listings is far below the peak levels for expired listings in Dane County. In 2007, a whopping 2,492 condo listings expired without selling through the first 11 months of the year. 

Days on market 

Days on market decreased in November, but the overall trend for Dane County condos is moving toward longer marketing times. The average days on market in November was 32 days, down from 39 days in November of 2024. Through the first 11 months of the year, the days on market averaged 33 days, up from 23 days a year ago. 

Dane County condo sales

A total of 74 condos sold (closed) in November, down 32 percent from the 109 sales in November of 2024. Note, however, the overall trend this year is toward increasing sales. Year-to-date through the first 11 months of the year, a total of 1,316 Dane County condos sold via the MLS. This sales total is 2 percent higher than the 1,293 condos that sold a year ago. 

The big picture

The month of December is typically the quietest month of the year for new listings and accepted offers in the Madison area condo market. However, the market will rev up quickly on the other side of the holidays. 

We are projecting moderately higher inventory, sales, and prices in the year ahead. 

What questions do you have about buying or selling a condo in 2026?  We're here to help you plan for your future, and never with any sales pressure or spin. Just reach out to your Mad City Dream Homes realtor when you're ready for a helpful consultation.