Madison area condo market trends for October, 2025

Dane County condo prices were mixed in October, indicating that the growth in local condo prices may be adjusting to a more moderate pace. Here's our transparent view of the October Madison area condo market, along with our year-to-date review of the first 10 months of the year. 

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

Dane County condo prices 

October Dane County condo prices

• The price per square foot increased from $221 in October of 2024 to $228 in October of 2025, up 3 percent. 
• The median price decreased from $303,000 to $300,000, down 1 percent.  
• The average price decreased from $362,949 to $350,269, down 3 percent. 

Year-to-date condo prices through October

• The price per square foot grew from $228 in the first 10 months of 2024 to $235 in the first 10 months of 2025, an increase of 3 percent. 
• The year-to-date median price grew from $308,250 to $325,000, up 5 percent.  
• The year-to-date average price grew from $346,416 to $366,626, an increase of 6 percent. 

Some notes on prices

Notice from the chart above that the condo price per square foot in 2025 (the orange line) has been tracking closely with 2024 price per square foot (the black line) over the last 5 months. As inventory has been improving here in Madison and Dane County, the growth in local condo prices appears to be moderating. Because of this, we do expect condo prices to grow at a more subdued pace in 2026. Stay tuned for our 2026 real estate predictions, which we'll be publishing later this month. 

Dane County condo listings

A total of 142 Madison area condos were listed for sale in October, down 11 percent from the 160 condos listed for sale in October of 2024. Through the first 10 months of the year, Dane County condo listings are up 2 percent from the year before. 

Accepted offers

A total of 107 Madison area condos went under contract in October, down 9 percent from the 118 accepted offers the year before. Through the first 10 months of the year, accepted offers are essentially even with the number of accepted offers in 2024. 

Dane County condo inventory

The supply of Madison area condos (those without an accepted offer) continues to increase from the supply levels over each of the last two years. A total of 300 Dane County condos were available for sale on November 6th, up 28 percent from 235 condos available the year before, and up 142 percent from the 124 condos in November of 2023.

This is the equivalent of 2.5 months of supply available for sale in Dane County. Condo inventory is moving in the right direction, giving buyers more selection and more time to view properties and negotiate an offer. We would like to see inventory levels continue to rise in order to support our growing population. 

Expired condo listings

A total of 219 Dane County condo listings have expired without selling through the first 10 months of 2025, up 51 percent from the 145 the year before. Even with this year's increase, expired listings are only a small fraction of what they were during the peak years of 2007 and 2008. 

Competing offers

As Madison area condo inventory has increased, the number of competing offers has decreased. Note from the chart below that the percent of listings with competing offers in 2025 (represented by the orange line) has fallen into pre-pandemic territory (represented by the blue line). The trend toward fewer competing offers is a healthy development for our market, and one that we expect will continue into the new year. 

Dane County condo days on market

The average days on market for a Madison area condo in October was 33 days, down from the 37 days in October of 2024. On a year-to-date basis, the overall trend shows days on market are clearly trending higher. Through the first 10 months of the year, the average days on market was 33 days, up from 22 days through the first 10 months of 2024. 

Dane County condo sales

A total of 111 Madison area condos sold (closed) in October, up 12 percent from the 99 closing in October of 2024. Through the first 10 months of the year, condo sales are up 5 percent from the year before. 

The big picture

As condo inventory continues to improve, competing offers are moderating and helping to control the growth in prices. Marketing times are increasing, too, giving buyers more time to view properties, more time to ask questions, and more time to negotiate an offer. All of these trends are positive developments for our Madison area condo market.

Buyers and sellers are clearly operating on a more level playing field this year, and we expect the trend toward a more balanced market to continue into the new year. Stay tuned for our 2026 Madison area real estate predictions, which we'll be publishing real soon.