Madison area condo market trends for December, 2025

Dane County condo prices increased in December, as accepted offers decreased and new listings increased. Here's our deep dive into the December 2025 condo market. 

Dane County condo prices 

December Madison area condo prices

• The price per square foot increased from $220 in December of 2024 to $230 in December 2025, up 5 percent. 
• The median price grew from $310,000 to $317,500, up 2 percent. 
• The average price rose from $331,859 to $351,401, up 6 percent. 

Year-to-date prices through December

• The price per square foot increased from $227 in 2024 to $233 in 2025, up 2 percent. 
• The median price grew from $308,500 to $324,900, up 5 percent. 
• The average price rose from $345,310 to $364,457, up 6 percent. 

How much will condo prices rise in 2026? 

We're forecasting condo prices to rise 2 to 4 percent in the new year. Check out this post for all of our 2026 market predictions. 

New condo listings 

A total of 60 Madison area condos were listed for sale in December, up 9 percent from the 55 listings in December of 2024. For all of 2025, condo listings were up 3 percent from the year before. We're forecasting condominium listings to rise moderately in 2026, too.  

Accepted offers

A total of 60 Dane County condos went under contract in December, down 19 percent from the year before. Throughout all of 2025, contract signings were lower by 1 percent.

Despite these numbers, we do expect condo buying activity to increase in the year ahead. Rates for 30-year mortgages recently dipped below 6 percent, and buyer activity is already picking up significantly during the first 2 weeks of 2026. 

Dane County condo inventory

As of January 9th, a total of 184 Madison area condos were available for sale (without an accepted offer) on the MLS. This is the equivalent of 1.5 months of condo supply across all of Dane County. 

Note from the chart below that condo inventory has been growing over the last 3 years. The current supply level is: 

• 12 percent higher than a year ago
• 115 percent higher than two years ago 
• and 107 percent higher than three years ago 

We do expect condo supply to continue to grow at a moderate pace in the year ahead. 

Expired condo listings

Expired listings are increasing, which is a sign that Dane County is trending toward a more balanced condo market, with buyers and sellers negotiating on a more level playing field.

A total of 288 Madison area condos expired without selling in 2025, up from 186 the year before. Note from the graph below, however, that expired condo listings remain very low compared to peak levels earlier this century. 

Competing offers

Competing offers and bidding wars are becoming less common in the Dane County condo market as the supply of condos continues to improve. According to our preliminary numbers for the month of November, 18 percent of the accepted offers in November involved multiple offers.

Note from the chart below that competing offers are trending well below peak market levels (2022), and have returned to pre-pandemic (2019) levels. Also note the seasonal nature of the Madison area condo market. The competition for condos is heating up in January and will peak in the springtime, followed by a decrease in competition throughout the summer, fall, and holiday seasons. 

Days on market 

The average days on market for a Dane County condo was 43 days in December, compared to 48 days in December in of 2024. This is based on a low number of sales, however, and not a true reflection of how marketing times are trending. 

The overall trend is toward higher marketing times. The average days on market for all of 2025 was 34 days, up from 25 days in 2024. We do expect marketing times to continue to increase in 2026 as inventory continues to improve. 

Dane County condo sales 

A total of 112 Dane County condos sold via the MLS in December, up 18 percent from the 95 condo sales in December of 2024. For all of 2025, Madison area condo sales ended the year 3 percent higher. Condo sales have increased each of the last two years, and we're forecasting moderate sales growth in 2026, as well. 

What questions do you have about buying or selling a condo in 2026? 

We're here to help you make sense of the market, and create a clear plan to address your goals. Reach out when you're ready for a helpful consultation. We'd love to help you.