Market Updates

Articles about the Dane County and Madison Real Estate Market

Found 237 blog entries about Market Updates.

Dane County condo prices continued to rise in February, as buyers continued to compete for a limited supply of condominiums. Here's our latest condominium update, covering all of the latest trends in Dane County -- updated for the month of February, 2023. 

Dane County condo prices

The price per square foot increased by 7 percent year-over-year, while the median and the average price increased by 24 percent and 23 percent, respectively. Keep in mind these numbers are based on a relatively small number of sales in the month of February. We fully expect the median and the average prices to moderate as we accumulate more sales data this spring. 

Madison WI Condo Prices Feb 2023 

New MLS condominium listings

Only 96 condo listings entered the market in February, which was the

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Dane County home prices continue to move higher in early 2023, but by smaller margins compared to the large increases in 2022 and 2021. Here's our comprehensive report on the Dane County single family home market -- updated for the month of February, 2023. 

Dane County home prices

The price per square foot increased 3% year-over-year. The average price and the median price were up 2% and 5%, respectively. 

Madison WI Home Prices March 2023 

New MLS listings

A lack of fresh housing supply continues to support high prices here in the Madison area. MLS listings decreased 23% from last February and were the lowest on record for the month. 

 Madison WI New MLS listings Feb 2023

Dane County housing starts

New construction also continues at a relatively subdued pace. Current construction levels are well

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When you think about it, these numbers from the Mortgage Bankers Association are pretty shocking. Right now, applications for purchase loans (excluding refi's) are running 44 percent below the levels from a year ago and at the slowest pace in 28 years. 

Mortgage Applications March 1st 2023

And yet, prices keep rising. How can this be? 

Well, one thing we keep learning, based on our daily work in the field, is that we have a significant amount of pent up demand in the Madison area. And although we have no way of measuring it, there's no doubt in our minds that we have tens of thousands of residents here in Dane County who would love to buy a home if there was enough inventory to accommodate.  

The other elephant in the room is that new listings continue to enter the market at the

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Rising prices and limited supply continue to be the two big themes in the Dane County condo market. Here's our latest Madison area condo report, covering all of the latest trends, including: sales, pending sales, days on market, prices, inventory, and much more.

Madison area condo prices

The price per square foot increased by 2 percent in January, while the median increased by 15% and the average by 16%. We do expect prices to continue to rise throughout all of 2023 based on current supply and demand trends. Our preliminary review of the February data indicates prices will be up significantly this month, too. 

Madison WI condos January 2023 

New condominium listings

Prices keep rising because new listings continue to enter the market at a slow pace. Only 106 condos were

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Here's our first real estate update for the 2023 sales year, covering all of the latest trends in the Dane County single family home market. Do you have questions about the real estate market in your neighborhood? You can always contact our real estate team for an open and honest conversation. 

Madison area home prices

The price per square foot increased from $199 to $210, an increase of 6 percent year-over-year. The median price jumped from $380,775 to $430,000, an increase of 13 percent. 

Madison WI home prices January 2023

New MLS listings

A low supply of new listings is one of the reasons why prices keep rising in Dane County. New listings decreased 26% year-over-year, and were the lowest on record for the month of January. 

Madison WI new mls listings Jan 2023 

Dane County housing starts

New

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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're predicting 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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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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