Market Updates

Articles about the Dane County and Madison Real Estate Market

Found 173 blog entries about Market Updates.

How did the stock market perform compared to the Dane County real estate market in 2022? This chart says it all. 

The stock market vs Dane County real estate in 2022

And where will the market go from here?

Based on what we see in the market right now, we do believe 2023 will prove to be another year of strong real estate prices here in Dane County. For more information, we invite you to check out our 2023 predictions, where we cover many of the current trends in the Madison area. Or talk to your preferred Mad City Dream Homes realtor. We're always available to talk about your future, and the future of real estate, too. 

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How is the Madison condo market performing? Our newest Dane County condo report offers an objective look at all of the latest trends, including prices, sales, accepted offers, days on market, and more.

Madison area condo prices

The median price for a Dane County condo increased by 14 percent in December while the price per square foot increased by 4 percent. (Note: monthly prices can fluctuate due to the relatively small numbers of condos being sold each month. So, we focus more on the trend over time, instead of the price statistics for any individual month).

Why do Dane County condominium prices continue to rise? One big reason is fewer condos are being listed for sale in the Madison area, which we cover in the next section below.

Madison WI condo prices Dec 2022

New

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Here's our latest update on the Madison area real estate market -- and without any of the spin. Do you have questions about how the market impacts you and your real estate goals? Contact our realtor team for a helpful conversation. 

Madison area home prices

The price per square foot increased from $197 in December of 2021 to $216 in December of 2022. That's an increase of 10 percent year-over-year.

Why do prices continue to rise in Madison and Dane County? One key reason is fewer homes are being listed for sale, which we cover in the next section below. 

Madison WI Home Prices December 2022 

New MLS listings

Only 133 Dane County single family homes were listed for sale in the month of December, a decrease of 30% from last December, and the lowest total on record for the

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According to Altos Research, inventory across the country is up 67% year-over-year. However, that's not the case locally. 

Here's how Dane County single family home inventory is trending:

Available listings are up by 53% compared to the same day in 2022. Although more options are becoming available in the Madison area, it's important to note that inventory is still low from an historical perspective, and we're expecting supply to remain low and prices to remain strong for the foreseeable future.  

Madison WI Home Supply Jan 8 2023

And here's the trend for condominiums:

There are actually fewer available condos for sale right now than there were on the same day last year. One of the reasons for lower condo supply is that very few new construction condos are entering the

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Here's our take on 2023:

Demand will remain strong relative to most other markets across the country -- due to Dane County’s growing population and reputation as a wonderful place to live, work, and play. 

Supply will gradually grow and will provide more options for buyers in 2023.  

Prices will remain strong. 

Dane County will continue to be an excellent place to build wealth through real estate -- for those who have the means and make the decision to buy in. 

You can learn much more about our predictions by contacting our team or by reading the full article on our blog. 

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What's trending in the Madison area condo market? Our latest Dane County condo update offers a nice summary of all of the latest trends, and without any exaggeration or spin. 

Madison area condo prices

The median price for a Dane County condo increased by 12 percent year-over-year while the price per square foot increased by 20 percent. Why do Dane County condo prices continue to rise? One big reason is the recent slowdown in new MLS listings (covered in the next section below). 

Madison WI Condo Prices November 2022 

New condo listings

Only 78 Dane County condos were listed for sale in November, which was the second lowest total on record for the month, and a decrease of 24% from the number of new listings in November of 2021. Mortgage rates have increased in 2022, which has

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With so many confusing headlines in the world of real estate, it can be hard to know who and what to believe. Our latest market update offers plenty of insight into the Madison area real estate market -- and without any of the spin. Here's our single family home report for the month of November, 2022. 

Madison area home prices

The price per square foot increased 13 percent year-over-year, while the median price increased 10 percent. Why do prices continue to post double-digit increases? One big reason is fewer homes are being listed for sale, which we cover in the next section below. 

Madison WI Home Prices Nov 2022 

New MLS listings

Only 235 single family homes were listed for sale in the month of November, a decrease of 33% from last November, and the lowest total on

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How are home and condo prices trending in the Madison area? Here are a few observations which offer some good insight into the Dane County real estate market. 

For starters, home prices are trending higher at all points along the price spectrum.

Based on our review of the November numbers, home prices are up significantly at every point along the spectrum. At the lower end, the mid-range, and the high-end -- all price points are trending higher. 

Madison WI Home Prices Nov 2022

Condo prices are trending higher, too. 

The median condo price in November was up 12 percent year-over-year, and prices were higher at every other point along the spectrum, too. 

Madison WI Condo Prices Nov 2022

What the numbers don't show.

What these numbers don't show is that some home and condo sellers are struggling

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Right now new Dane County listings are entering the market at a very slow pace.

Take single family homes, for example

Only 235 new listings were posted to the MLS in November, which was down 32% from a year ago, and was the lowest total for any month of November on record (our data goes back to 1999).

Madison WI new single family home listings Nov 2022

And Dane County condos

Only 74 new condominium listings were posted to the MLS in November, which was a decrease of 28% from a year ago, and the second-lowest total on record for the month.

Madison WI New Condo Listings Nov 2022

Why are listings trending lower?

One huge reason is our recent history with mortgage rates:

From 2012 to 2021, homeowners and investors acquired real estate under very favorable terms, and refinanced at even better terms when mortgage rates

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Can you guess how many more people will be living in Dane County by the year 2050? 

A) 50,000?

B) 100,000?

C) 150,000?

D) 200,000?

Madison WI population growth

If you answered "D", then your answer lines up with the projections of the Capital Area Regional Planning Commission. According to a recent study by the commission, our local population is projected to grow by more than 200,000 people between now and 2050. 

Dane County is already the fastest-growing region in the state, and our region's rapid rate of growth is just one of the reasons why we believe Madison area home and condo prices will remain strong in 2023 and beyond. Dane County will continue to be a great place to build wealth through real estate -- for those who have the means and make the decision

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