Market Updates

Articles about the Dane County and Madison Real Estate Market

Found 99 blog entries about Market Updates.

Home and condo prices surged once again in the month of March. Here's our quick snapshot of the latest real estate trends in Dane County. 

Single family homes

  • As of April 6th, 65% of all Dane County single family home listings are under contract with an accepted offer and only .5 months of supply are available for sale. Both of these numbers are off the charts for our market. 
  • New listings decreased 15% in March from the previous March. 
  • Accepted offers decreased by 4%. 
  • Home prices increased by 9% year-over-year. 

Madison Single Family Home Snapshot - March 2021

Condos

  • As of April 6th, 69% of all Madison area condo listings are under contract with an accepted offer and only .6 months of supply are available for sale. 
  • New listings in March were even with the new
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Madison area real estate prices are rising at the fastest pace we've ever seen, so your home or condo could be worth much more than you think -- even if you've only owned your property for a year or two. Check out our local price update below, and contact us for a complimentary market analysis. We can tell you how much your home is worth in this year's fast-moving market. 

Rising Madison WI Home Values

Dane County home prices

February home prices rose 10% year-over-year and 9% year-to-date. Low inventory and high demand have been fueling price growth at an accelerated pace. 

Madison WI Home Prices Feb 2021 

Dane County condo prices

Condo prices jumped 13% in February and 8% year-to-date. With only .6 months of supply in the market, condo prices are poised to rise significantly throughout all of

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Dane County home and condo listings continued to enter the market at a slow pace during the month of February, and a scarcity of listings is contributing to an unprecedented rise in prices (we'll be sharing more info on prices real soon). Here's the scoop on new MLS listings during the month of February. 

Single family home listings decreased 27% last month.

Only 440 new MLS listings entered the market last month, which was the lowest February total since at least the year 2000. 

Dane County New Single Family Home Listings Feb 2021

New condo listings were down 30% in February.

Only 112 new condo listings entered the market in February, which was the third lowest total on record for the month. 

Madison WI New Condo Listings Feb 2021

Our clients are accomplishing their dreams and goals in 2021. 

Even though inventory is

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Inventory is tight for single family homes, and it's tight for condos, too. Here's our latest scoop on the Madison area condo scene covering the first 6 weeks of the year. 

Percent of listings with accepted offers and months of supply

Right now 58% of all Dane County condo listings are under contract with an accepted offer, which is a very high number for mid-February. Competition is especially high for condos priced under $350,000. Overall there are only .7 months of condo supply in Dane County. This is the lowest inventory level that our team has ever reported for our market. 

Madison Condo Listings with Accepted Offers Feb 13 2021

New MLS condo listings

Only 130 new listings entered the Dane County condo market in January. This was the third lowest total on record for the month. 

Madison WI New MLS Condo Listings Jan 2021

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What's going on with Madison area real estate? The story of the year so far is low inventory. Here's our latest snapshot of the Dane County single family home market -- covering the first 6 weeks of 2021. 

Percent of listings with accepted offers

Right now 54% of all Dane County single family home listings are under contract with an accepted offer, which is a very high number for this time of year. The market for homes priced under $500,000 is especially competitive. 

Madison Single Family Listings with AOs Feb 13 2021 

Months of supply

Right now there are only .6 months of single family home supply throughout all of Dane County. Inventory is especially low for homes priced under $500,000. 

Madison WI Single Family Home Supply Feb 13 2021

New MLS listings

Dane County property owners have been slow to put their homes up for sale

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If you're thinking of selling your home in 2021, now is the time to put your home on the market, even though we're in the middle the winter season. Here's why: so far this year new listings are entering the market at an extremely slow pace. And with so much demand in the marketplace, many sellers are receiving multiple offers and selling for tens of thousands of dollars over the list. 

For a little more context, here's a quick look at how new MLS listings are trending in early 2021. 

Dane County new single family home listings

New single family home listings reached a new low in January and fell by 32 percent from January of 2020. Last month was the only January on record to log fewer than 400 new listings. 

Madison WI New MLS Listings Jan 2021 

Dane County new condo

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The Madison area condo market was very active in December, as condo closings and accepted offers increased big-time to close out the year. Here's our latest market update along with our commentary on what to expect in the year ahead. 

Madison area condo sales

Despite low inventory, Dane County condo sales grew to the second-highest total on record for the month of December. Sales increased 29% year-over-year and 14% during the calendar year.  

Madison WI Condo Sales Dec 2020

Accepted offers

Local condo buyers were very active last month and almost set a new record for the month of December. Accepted offers increased 28% from the prior December and 14% during all of 2020. We expect strong sales totals in January based on the number of contracts signed in December. 

Madison WI Condo Accepted Offers Dec 2020 

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December was another strong month for the Dane County single family home market. Here's our quick overview of the latest single family home trends and a sneak peek at what lies ahead in 2021. 

Madison area home sales

Dane County home sales set a new record for December, increasing by 17% from December of 2019. Home sales set a new annual record in 2020 and grew by 7% from the year before. 

 Madison WI Single Family Home Sales Dec 2020

Accepted offers

Accepted offers decreased 4% year-over-year, but buyer activity was still strong compared to most other Decembers over the last 20 years. 

Madison WI Single Family Home Accepted Offers Dec 2020

Expired Listings

Expired listings reached a new low for the month of December. Low inventories and strong buyer demand have created a market with very few expired listings. 

Madison WI Expired Single Family Listings Dec 2020 

Days on

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The new year is upon us, which means it's time for our 2021 real estate predictions. Below we've identified 7 key real estate trends for the coming year, many of which have been shaped by the tumultuous events of 2020. For a look back at last year's predictions, check out this article from our blog. 

2021 Dane County Real Estate Predictions

Our 2021 Madison real estate predictions

#1: Mortgage rates will remain historically low for the whole year. 

The Federal Reserve has indicated it's committed to doing what it can to keep mortgage rates low for the foreseeable future. If this holds true, this means rates for a 30-year mortgage should be around 3 percent for all of 2021. 

#2: Home and condo sales will be at or above the levels from 2020. 

Low mortgage rates will fuel a

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The Madison area condo market continues to be very active as we approach the new year. Here's our latest report on the Dane County condo market, covering the month of November, 2020. 

Dane County condo sales

Madison area condo sales jumped 14% in November and set a new record for the month. Even though we're in the midst of the holidays, many buyers are motivated to make a purchase before the end of the year. 

Madison WI Condo Sales November 2020

Accepted offers

Accepted offers increased 21% in November and established a new record for the month, too. We're expecting a high number of closings in December and January based on the large number of buyers writing offers in November.  

Madison WI Condo Accepted Offers Nov 2020 

Madison area condo prices

Dane County condo prices reached a new high for the month

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