Dane County home prices rose last month for two out of our three measures. Here's our full report on the Dane County single family home market for the month of March, 2025.
Dane County home prices
Three price statistics:
- The price per square foot increased from $240 in March of 2024 to $250 in March of 2025, an increase of 4 percent.
- The average price grew from $511,853 to $523,155, an increase of 2 percent.
- The median price changed from $469,900 to $464,450, down 1 percent.
We do expect prices to remain elevated throughout the year, based on current supply and demand trends.
New listings
A total of 450 Dane County homes were listed for sale in March, just slightly above the record low for the month.
Accepted offers
A total of 516 single family home listings went under contract in March, up significantly from the 457 in March of 2024 and 430 in March of 2023. Real estate demand remains strong in the Madison area.
Dane County home supply
The inventory of available homes (those without an accepted offer) continues to grow in the Madison area. A total of 553 homes were available for sale on April 9th, which was the equivalent of 1.3 months of supply. Although inventory continues to gradually increase, it is still quite low by historical standards. We need to continue to grow our supply of homes in Dane County.
Cash offers
As you can see by the orange line in the chart below, cash offers are moderating in the Madison area. The cash offer percentage in March of 2025 was 14%, compared to 15% in March of 2024 and 21% in March of 2023. This is a good sign for our market, an indication that it's trending toward more balance.
Days on market
Days on market continue to increase in the Madison area, another sign of a market trending toward more balance. The average days on market in the month of March was 38 days, which was the highest for any month of March in the last 5 years. Note, however, that marketing times are still low by historical standards.
Dane County home sales
A total of 348 homes sold via the MLS in March, down from 365 home sales in March of 2024. However, we do expect home sales to rise noticeably in April due to the increase in accepted offers this month.
What questions do you have about your real estate market?
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