Madison area condo prices up 12 percent in January

Posted by Dan Miller, REALTOR on Wednesday, February 23rd, 2022 at 4:26am.

Prices keep rising for single family homes, and they're rising for condominiums, too. Here's our latest update on all of the important trends in the Madison area condo market.

January Dane County condo prices

The price per square foot increased by 12 percent year-over-year, while the average price and median price increased by 13% and 7%, respectively.

Madison WI Condo Prices Jan 2022

New MLS listings

A scarcity of new listings is one big reason for higher prices. Only 94 condos were listed for sale last month, which was a new low for the month of January.

New Madison WI MLS Condo Listings Jan 2022

Months of supply

As of February 12th, only 86 condo listings were available for purchase, which is the equivalent of .6 months of inventory. Where will inventory go from here? Check out this recent article for our thoughts on this topic.

Madison WI Condo Supply Feb 12 2022

Days on market

With historically low levels of supply, Dane County condos continue to sell very quickly. The average days on market in January was only 27 days, which was a new low for the month.

Madison WI Condo Days on Market Jan 2022

Accepted offers

Buyer demand continues to be very strong, but a lack of supply is limiting the number of condos going under contract in early 2022.

Madison WI Condo accepted offers Jan 2022

Dane County condo sales

Condos sales (or closings) were strong in the month of January, despite persistently low levels of supply. This is a clear indicator of very strong buyer demand in Dane County.

Madison WI Condo Sales Jan 2022

Buying and selling a condo in 2022

With so many real estate agents in the Madison area right now, and with so much noise in the media and social media about the market, it can be hard to know who and what to trust. We're here to bridge that trust gap for you. 

What real estate goals are you aspiring to accomplish in 2022? And what questions do you have about the market? We're just a phone call away anytime you're in need of a helpful, straight-forward consultation. 

This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred
1619 Monroe Street #1, Madison, WI, 53711

Leave a Comment

Format example: you@domain.com
Format example: yourwebsitename.com

Sign up for email updates