Here's the latest scoop on all of the key trends in the Dane County condominium market.
Madison area condo prices
The price per square foot set a new record for the month of September, jumping from $184 in September of 2021 to $207 in September of 2022.
New MLS condo listings
One reason prices remain high is that the number of new condominium listings entering the market is quite low. Through the first nine months of the year, new MLS condo listings are entering the market at the slowest pace since 2002.
Condo inventory
Because fewer people are choosing to sell their condo this fall, active inventory remains very low. In fact, there are fewer Dane County condos available for sale right now than there were at the same time last year.
Accepted offers
Buyer activity continued to trend lower in September, decreasing by 20% year-over-year.
Madison area condo sales
Condo sales dipped in September, but still came in at the 5th highest total on record for the month.
Condo days on market
Marketing times are beginning to rise in the Madison area, but in the big picture, days on market remain quite low.
Do you have questions about buying or selling a condo in the fall market?
We would love to be a resource for you and help you plan for your future. Please reach out to your Mad City Dream Homes realtor for a helpful consultation. We'll help you make sense of the market, and help you start making progress on all of your real estate goals.
