Dane County condo prices rose last month, across the board, for all 3 measures. Here's our full report on the Madison area condo market for the month of March, 2025.
Dane County condo prices
Three condo price statistics:
- The price per square foot increased from $222 in March of 2024 to $234 in March of 2025, an increase of 5 percent.
- The average price grew from $333,793 to $347,144, an increase of 4 percent.
- The median price changed from $311,000 to $316,250, up 2 percent.
We do expect Dane County condo prices to remain elevated throughout the year, based on current supply and demand trends.
New MLS listings
A total of 149 Dane County condos were listed for sale in March, which was the lowest for any month of March in the last 23 years.
Accepted offers
Even though new condo listings were low in Mach, buyer activity was robust. A total of 156 Dane County condos went under contract last month, which was an increase from both March of 2024 and March of 2023. Buyer demand for condos remains strong in the Madison area.
Dane County condo supply
A total of 186 Dane County condos were available for sale (without an accepted offer) as of April 13th, 2025, which is up noticeably from the supply level in April of 2024 and April of 2023. This is a positive development for our market, but we still have only 1.6 months of inventory across the whole county. We will need more new construction condos to accommodate our growing demand for real estate in the Madison area.
Days on market
The Dane County condo days on market was 41 days in the month of March, which was the highest for any month of March in the last 4 years. This is still low by historical standards, but it's a positive development and a sign that the market is trending toward more balance.
Dane County condo sales
A total of 87 Dane County condos sold (closed) last month, which was the highest March total in the last 4 years. We're expecting condo sales to rise in the month of April, too, based on the number of contract signings in March.
What questions do you have about the Madison area condo market?
We're here to answer all of your questions for you, and help you starting making progress on your buying and selling goals. Call us for a helpful consultation.
