Market Updates

Articles about the Dane County and Madison Real Estate Market

Found 93 blog entries about Market Updates.

Buyer activity dropped in March due to the pandemic announcement and Wisconsin's Safer at Home order. However, in the last couple of weeks we've had more buyers reaching out to us and asking us for help. 

At the same time we've noticed some interesting trends with our website traffic, which we like to track because it provides some insight into how engaged buyers are with the market. As you can see from the graph below, traffic dropped dramatically in the middle of March...BUT, it has been slowly climbing these last few weeks and is now much higher than it was the year before. 

Demand for Madison WI Real Estate

Buyer interest is strong right now.

Even though there will be fewer homes bought and sold this year, there are still plenty of buyers out there who are waiting for the

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A few days ago one of our buyer clients was elated to learn that her offer for a west side condo was accepted. This may seem hard to believe, but there were 8 other buyers who wrote an offer on the same property. You may be wondering, how is it possible that we're seeing so many competing offers at a time like this? It doesn't make sense that this would be happening during a pandemic.

The answer is, it's all about scarcity. Here's a quick look at how scarcity is shaping our market this Spring. 

scarcity in the Madison WI real estate market

Scarcity in the Dane County condo market

There are fewer buyers participating in the market right now - and fewer sellers, too. Here are the trends we're observing in the Madison area condo market. 

The under $250k condo market is highly

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Many of you have a lot more interest in the real estate market than you did just a month ago, so we'll be sharing much more info on how the market is evolving in the weeks and months ahead. We've just published our latest Madison condo report here, but here's a shorter version of where the condo market is right now - and where we see it going.

Madison WI Condo Market April 2020

Here's a quick summary of the March condominium market:

  • Madison condo sales were up 12% from March of 2019. 
  • The condo price per square foot increased by 10% in March and 8% year-to-date. 
  • The number of expired listings and the average days on market were very low in March. 
  • New condo listings decreased to the lowest level since 2003. 
  • Accepted offers also decreased. This was due primarily
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We know a lot of you have questions about how the Madison area real estate market is evolving, so we'll be sharing a lot of good information with you in the weeks and months ahead. This begins with our Madison single family home report, which will be updated regularly and is linked here. Below is our short summary of the latest trends and our perspective on how the market is changing. 

Madison WI Real Estate Snapshot Spring 2020 

Here's a quick summary of the March single family home market:

  • Madison home sales increased by 19% from March of 2019. 
  • Accepted offers increased by 22%. 
  • The number of expired listings and the average days on market remained near historically low levels. 
  • The number of new MLS listings entering the market was the lowest total in the last 18 years.
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We understand these are anxious times for many people, so we'll be doing our best to keep you updated on how the Madison area real estate market is evolving over time. Below we provide a brief look at what we see happening right now, as well as what we expect to happen in the future. 

Madison Real Estate, Stock Market, Coronavirus

What is our experience with the market right now? 

Right now we're actively assisting many people who are motivated to buy. We're also listing new properties and our listings are receiving strong traffic. We have noticed some relocating buyers are canceling their plans to fly into Madison and tour properties. We're also beginning to see changes in the way real estate is practiced (more on this below). Up to this point, this has been a pretty typical March for our

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We've all seen stories in the media and social media about how hot the real estate market is in Madison. But when is the market the hottest, and when are bidding wars most common? Here's a quick look at the numbers which offer some good insight into our local market. 

Bidding wars are most common in March, April, May and June. 

Take a look at these numbers from 2019, which show the percent of listings that had competing offers for each month of the year. These numbers are consistent with our own experience: The spring months are the busiest months of the year, and these are the months when multiple offers and bidding wars are most common.

 Madison WI Competing Offers by Month 2019

Bidding wars are also very common for properties priced under $300,000. 

Competing offers are also

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It's only Valentines Day but the market is already heating up, especially for some of the more affordably-priced properties in the Dane County area. For example, in the last week, one of our clients received 3 competing offers on their new listing, while another client received an amazing 13! Here's a quick look at the price points that are receiving the most interest from buyers in early 2020. 

Hottest Properties in Dane County WI

The hottest homes in the Madison area

Right now the hottest homes in the Madison area are those priced under $300,000. As you can see from the data below, well over 50% of these more affordably-priced listings are under contract with an accepted offer. If you think of this another way, it's like browsing for properties on a website like Zillow and

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January was another solid month for the Madison area condo market. Here's our latest update based on data sourced from the South Central Wisconsin MLS.  

Dane County condo prices

The average price per square foot in January was the second-highest on record. With low interest rates, low inventory, and strong buyer demand - we fully expect Madison area condo prices to reach new highs in 2020. 

Madison WI Condo Price per Square Ft Jan 2020

Dane County condo sales

Condo sales (or closings) dipped in January, but were still strong compared to most other years dating back to the year 2000. We expect low inventory levels to restrain condo sales throughout all of 2020. For more information, check out our inventory summary later in this post. 

Madison WI Condo Sales Jan 2020

Accepted offers

Despite low supply, the

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January was another strong month for the Dane County single family home market. Here's our latest update from the South Central Wisconsin MLS:

Dane County single family home sales

January home sales reached the second highest total on record and were up 14% from the sales levels in January of 2019. 

Madison WI Home Sales January 2020

Dane County home prices

The price per square foot reached a record high in January, setting the stage for more strong price growth in 2020. Prices were up 5% year-over-year in January. 

Madison WI Home Prices January 2020

Dane County accepted offers

Accepted offers were down from each of the last 2 years, but were still strong compared to most other years dating back to the year 2000. 

Madison WI Single Family Accepted Offers Jan 2020

New MLS listings

New listings continue to enter the market at a slow pace.

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December was another solid month for Madison area real estate. Here's our latest summary of the single family and condo markets in Dane County. 

December home and condo sales

A record 464 single family homes sold in the month of December, an increase of 32% from the 352 homes sold in December of 2019. 

 Madison Area Home Sales December 2020

Condo sales were just below the sales levels from 2018 and 2017. 

Madison WI Condo Sale Dec 2019 

December accepted offers

Single family home accepted offers were a tad lower compared to the prior December. 

Madison WI Accepted Offers Dec 2020 

Condo accepted offers were consistent with the levels from each of the last two Decembers. 

Madison WI Condo Accepted Offers Dec 2019 

January months of supply

As of January 11th, only 1.4 months of single family home inventory are available for sale in Dane County. Supply is

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