Dane County condo prices were mixed last month. We don't see this as a sign of falling prices. Rather, it's a reflection of a small data set. The months of January and February traditionally have a low number of closings. Prices at the beginning of the year can experience large swings with either a few high-priced or low-priced sales. 

Here's our full report on the Madison area condominium market.

Dane County condo prices

The price per square foot decreased, while the average and median price increased. 

• The price per square foot decreased from $228 in February of 2024 to $218 in February of 2025, a drop of 5 percent.
• The average price jumped from $325,685 to $330,840, an increase of 2 percent.
• The median price grew from $290,000

Dane County home prices rose once again last month, and by all measures. Here's our full report on the Dane County single family home market. 

Dane County home prices

The price per square foot, average price, and median price all rose last month. 

• The price per square foot increased from $242 in February of 2024 to $251 in February of 2025, an increase of 4 percent.
• The average price jumped from $494,776 to $546,940, a jump of 11 percent.
• The median price grew from $452,650 to $473,700, up 5 percent.

We do expect prices to continue to rise this year, based on current supply and demand trends. 

New MLS listings

The number of new listings entering the market was lower in February, decreasing by 8 percent from the year

February home and condo listing activity remained relatively light in February. Here's a quick look back at last month's numbers. 

Dane County single family home listings

A total of 450 Dane County homes were listed for sale in February, down 8 percent from the 490 homes listed in February of 2024. 

Dane County condo listings

A total of 138 Dane County condos were listed for sale last month, down 12 percent from the 156 condos listed for sale a year ago. 

What to expect for the spring market

We're expecting continued strong prices and a very competitive market overall, but with a little less buyer competition compared to recent years. Buyers who remain persistent and focused will be the ones who find opportunity in the year

Kudos to the city of Madison for implementing this transparent housing tracker. The city's goal is to add at least 15,000 new housing units (of all types) by 2030, with at least 25 percent of the new units qualifying as affordable housing. 

Curious about the specific housing developments that are currently in the works? Click here for an interactive map from the Department of Planning, Community & Economic Development.   

Dane County condo values continue to rise in the new year, and the market is already very competitive in early 2025. Here's our latest update on the Madison area condo market. 

Dane County condo prices

The price per square foot rose from $212 in January of 2024 to $225 in January of 2025. Note from the chart below that Madison area condo prices have more than doubled since the most recent market bottom in 2012. 

New condo listings

A total of 126 Dane County condos were listed for sale in January, up from the 107 listings a year ago. In the bigger picture, listing activity continues to trend along historically low levels. We fully expect our growing population and a lack of fresh condo supply will lead to more price appreciation in the year

Madison area home prices continue to appreciate in early 2025, with all signs pointing to more price appreciation in the year ahead. Here's our full report on the January 2025 Dane County single family home market. 

Dane County home prices

The price per square foot grew from $226 in January of 2024 to $234 in January of 2025, an increase of 4 percent. Note from the chart below that local home prices have increased by 113% since the most recent market bottom in 2012, and by 156% percent since the year 2000. 

New MLS listings

New single family home listings rose modestly in January after dipping noticeably lower in December and November. A total of 437 Dane County homes were listed for sale in January, which was up 6 percent from the 411

One important dynamic for buyers and sellers to remember is that the competition for real estate tends to be highest during the first six months of the year, which the chart below makes abundantly clear. 

Another important dynamic is the supply of available inventory by time of year. The number of available listings (those without an accepted offer) is actually lowest during the first 6 months of the year, when the competition for real estate is highest. 

This is why we always encourage our buyer clients to be open to finding their dream home throughout the calendar year, not just during the rush of the spring market. You just never know when the perfect opportunity might present itself. It could be during the frenzy of the spring market,

Dane County home and condo listings dipped lower in November and December, but increased modestly in January. 

Single family home listings

A total of 437 Madison area homes were listed for sale in January, which was the highest total for any month of January in the last 5 years. In the big picture, listing activity remains low, considering how quickly Dane County's population continues to grow. 

Condo listings 

A total of 127 Madison area condos were listed for sale in January, the highest since January of 2021. Yet notice from the chart below how condo listings have been at subdued levels for each of the last 12 years. 

What to expect for the 2025 Dane County real estate market

The market is already proving to be very

We've just updated our 2024 home and condo selling statistics using objective data from the South Central Wisconsin MLS. Here's a quick look at how Mad City Dream Homes compares to the rest of the Dane County realtor community. 

Sold price vs original list price

• Mad City Dream Homes: 103.1% 
• Dane County average: 99.6% 

Percent of listings receiving competing offers

• Mad City Dream Homes: 60% 
• Dane County average: 34% 

Days on market

• Mad City Dream Homes: 9 days 
• Dane County average: 26 days 

There's no doubt, our clients reap the benefits of professional marketing and expert negotiation. We'll have more to share about these two topics real soon. 

A slew of development projects are in the works for the city of Madison, including a number of proposals that will add thousands of new apartments to the downtown area. The Department of Planning, Community & Economic Development publishes all of the current proposals on its website and this interactive map. 

No doubt, Madison's population will continue to grow, and we'll continue to see more large-scale projects and urban infill in the years ahead. The vast majority of these projects will be for apartments, not condos, leading to condo values continuing to appreciate.  

(click for interactive map)