Market Updates

Articles about the Dane County and Madison Real Estate Market

Found 151 blog entries about Market Updates.

August was another month of high prices and low inventory for the Dane County condominium market. Here's our latest snapshot covering all of the key trends in the Madison area. 

Condo inventory

Available listings (those without an accepted offer) increased significantly this summer, but have since receded from the peak levels in July. Dane County currently has less than a month of inventory available for sale, which is one reason why we expect more price appreciation in the months ahead.

Madison WI Condo Inventory Sept 13 2022

New MLS listings

Through the first 8 months of 2022, new condominium listings are entering the market at the slowest pace in 20 years. New listings decreased by 17% year-over-year in July, and by 22% in August. Listing activity will be low this fall, too,

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Madison area home prices continued to reach new highs in the month of August, while days on market continued along record lows. Here's our latest update on the Dane County single family home market. 

Dane County single family home inventory

Active inventory increased dramatically in May and June, and then leveled off in July and August. Inventory remains very low from an historical perspective, which is one reason why we expect Madison area home prices will remain elevated in the months ahead.

Madison WI single family home inventory Sept 2022

Dane County single family home new listings

Inventory remains low because new listings are entering the market at a very slow pace. In July, new MLS listings decreased by 25% from the year before. In August, new listings decreased by 30%. Through the

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It's true, buyer activity has decreased in recent months, but seller activity has decreased noticeably, too.

Take single family homes, for example

Through the first 8 months of the year, new single family home listings are entering the market at the slowest pace since the year 2000, with the slowdown in new listings increasing noticeably in July and August.

Dane County MLS Listings Through August 2022

And Dane County condos

Through the first 8 months of the year, new condominium listings are entering the market at the slowest pace since 2002. Similar to homes, the slowdown in new condominium listings has accelerated in July and August.

Madison Condo Listings Decrease in August 2022

Where will the Madison area real estate market go from here?

We encourage you to read our blog post, Why Dane County real estate will remain

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Wondering what's going on in the Dane County condo market? Here's our latest scoop on the Madison area condo market, updated through the month of July, 2022.

Active Dane County condominium listings

As of August 11th, 141 Dane County condo listings were available for sale (without an accepted offer) on the South Central Wisconsin MLS. After almost doubling over the last few months, active listings have actually started to level off and even recede in recent weeks. Why is this happening? Condominium listings continue to enter the market at a slow pace (see the next section below).

Madison WI Condo Inventory Aug 11 2022

New Dane County condo listings

Only 165 new condominium listings entered the market in the month of July, which was a 17% decrease from July of 2021. Listings

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Here's our latest scoop on the Dane County single family home market, updated through the month of July, 2022.

Available single family home listings

As of August 11th, 573 single family home listings were available for sale in Dane County. Although active listings have increased dramatically since the spring of 2022, the rate of growth has leveled off in recent weeks. A low supply of incoming listings has contributed to the leveling off of available inventory (see below).

Madison WI MLS Inventory Aug 11 2022

New single family home listings

Only 566 new single family home listings entered the Dane County real estate market in July. This represented a 25% decrease from July of 2021, and the lowest total for any month of July since the year 2000. Why are listings entering the

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A few months ago, we predicted the supply of Madison area property listings would be low this year, and so far in 2022 the market has proven our prediction to be true. 

Take Dane County homes, for example:

Through the first 7 months of the year, single family home listings have been entering the market at the slowest pace since the year 2000.

Madison WI July 2022 Madison MLS Listings

And Dane County condos:

Condominium listings have been entering the market at the slowest pace since 2002.

July 2022 Madison WI Condo Listings

The thing is, real estate is likely to be a scarce resource for a long time.

And it all comes down to simple supply and demand.

Supply will remain low because home and condo construction is subdued, foreclosures are relatively rare, and homeowners with low mortgage rates are

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Dane County home and condo prices continued to post big increases in the month of July. Here's our latest snapshot.

Home prices were up by 12 percent.

The price per square foot increased from $189 in July of 2021 to $213 in July of 2022.

Madison WI July 2022 Home Prices

Condo prices were up by 17 percent.

The price per square foot increased from $180 in July of 2021 to $211 in July of 2022.

July 2022 Madison WI Condo Prices

Where will prices go from here?

Keep in mind the July numbers are the result of offers that were written in the months of May and June, back when there was less inventory and more demand. Now that inventory is rising, we do expect the growth in prices to moderate, but we don't expect prices to fall. That's because supply is still very low by historical standards, and low

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As the Madison area real estate market continues to evolve this summer, we'll be publishing some new predictions for the rest of 2022. Our first prediction is the return of the unique, hyperlocal market.

Downtown Madison Hyperlocal Market

Here's a little context.

For the last two years, when mortgage rates were historically low and demand was historically high, inventory was depleted to rock-bottom lows throughout all of Dane County. For awhile, no matter where you lived, it seemed you could sell your home in a matter of days or hours and for an incredible price. There wasn't much differentiation between local markets. Every location, every price point, and every type of property was hot.

But now, as demand is mellowing and inventory is increasing, we are once again beginning

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The summertime is usually a time of transition for the Madison area real estate market, and this summer is no exception. Here's a quick look at a few key trends that provide some good perspective on what's going on in the market right now.

Showing activity is trending lower this summer, and is well below the levels from the previous 3 summers.

Take a look at our data through the month of July. Showings last month were down 14% from July of 2021, 26% from July of 2020, and 7% from July of 2019. Property showings will continue to trend lower throughout the summer and the fall, as they typically do during the second half of the year.

Madison WI Property Showings July 2022

Accepted offers are trending lower this summer, too.

Signed contracts for single family homes decreased by 10%

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Condo sellers continued to cash in on historically high prices in the month of June. At the same time, we're seeing clear signs of a mellowing market. Here's our latest Dane County condo market report -- covering the month of June, 2022.

June Dane County condo prices

The price per square foot increased by 7% in the month of June and by 8% year-to-date. Compared to June of 2020, the June price per square foot was up by a whopping 30 percent. To put this in perspective: if you purchased a condo for $200,000 just two years ago, you same condo is now worth approximately $260,000. 

Madison WI Condo Prices June 2022

Condo inventory as of July 22nd

As of July 22nd, 156 condominiums were available for sale -- without an accepted offer -- in Dane County. Although inventory is still

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