Madison area condo prices continued to rise in November, and by all three of our statistical measures. 

• The condo price per square foot grew from $217 in November of 2023 to $225 in November of 2024, up 4 percent. 
• The average condo price grew from $313,410 to $342,417, an increase of 9 percent. 
• The median condo price grew from $270,000 to $306,500, a jump of 14 percent. 

New condo listings

November was a slow month for Madison area condo listings. Only 70 Dane County condos were listed for sale in November, down from the 85 condos in November of 2023. Our feeling is some people were feeling a little uncertain about their real estate plans due to the recent elections. We do expect listing activity to pick up once again in early

The truth is buying a home is more challenging than it was 5, 10 and 20 years ago. And we want you to know that we fully embrace this challenge; we love helping our clients take their leap into homeownership.

So, if you have a friend or family member who is aspiring to become a homeowner in 2025, please know we would love to help them. We're here to give them all of the time, attention and support that they need to make this important, life-changing event happen.

Thank you for connecting us when your friends and family need help; we're grateful for your continued trust in our team.

Madison area home prices continued to rise in November, and by all measures. 

• The price per square foot grew from $228 in November of 2023 to $243 in November of 2024, up 7 percent. 
• The average price grew from $496,203 to $519,471, an increase of 5 percent. 
• The median price grew from $430,000 to $469,000, a jump of 9 percent. 

New MLS listings 

November was a slower month for new single family home listings, bucking the recent trend of more homes hitting the market. A total of 252 Dane County homes were listed for sale in November, down from the 276 homes in November of 2023. Our feeling is some people were feeling a little uncertain about their real estate plans due to the recent elections. We do believe listing activity will

It's usually more advantageous to price your home slightly below its true market value than it is to price your home well above what it's worth. 

Many sellers are tempted to shoot for the moon in this market. But pricing too aggressively often results in an extended days on market, a lack of competition, and an offer that is well below the list. 

Pricing slightly below market value, on the other hand, is a proven strategy for attracting multiple offers, with squeaky clean terms, and for prices that far exceed the list. 

If you're planning to sell your Madison area home or condo in 2025, you're bound to have questions. Reach out to our realtor team for a complimentary consultation. We're here to be a resource for you and help you make good

Madison area home and condo listings quietly increased through the first 10 months of the year, but reversed course somewhat in the month of November. Our sense is some folks put their real estate plans on hold last month, due to uncertainty about the election. 

As we recently noted in our 2025 real estate predictions, we do expect listing activity to pick up again on the other side of the holidays. Here are the numbers for Dane County homes and condos in the month of November. 

November single family home listings

A total of 252 Dane County homes were listed for sale in November, the second lowest on record for the month. Only November of 2022 had a lower total -- 246. 

November condo listings

A total of 71 Dane County condos were

We're excited for our clients Karen and Kurt, who just had their offer accepted for a condo in their preferred association. Karen and Kurt's condo search was a little unconventional. 

We found their condo by researching listings that had recently expired without selling, and this one met all of their most important needs. So we reached out to the previous listing agent to see if he could arrange for a showing. As it turns out, the owner was open to a showing, and our offer was accepted without any bidding wars or competition. 

As Kurt and Karen are picking out paint colors and getting ready for their move, we're reminded that scouring expired listings can be a great way to find an off-market property, especially during the winter season. More

Shelley just listed this home on Madison's west side, and with tremendous results. The sellers received 6 offers in total and ended up settling on one that was squeaky clean and well above the list price. 

This is just the latest example of the home-selling fundamentals at work. Beautiful staging, photography, and marketing -- along with sound pricing and negotiation -- deliver exceptional results any time of the year. Professionalism is always in season at Mad City Dream Homes :)

Competing offers have subsided from record-high levels, but they're still common in Dane County's fast-moving real estate market. 

One way you can compete more effectively as a buyer is to write a "cash offer", or in other words an offer without a financing contingency. There are 2 key concepts to remember when you write your cash offer: 

1) Once your cash offer is accepted, you can still choose to close with a mortgage if you wish.

2)  You do need to provide documented "proof of funds" as part of your offer. 

What are some common sources that can be used as “proof of funds”?

Here are 3 different sources that you might consider: 

1) A letter from your banker or statements from your financial accounts. 

2) Verification of funds

What does the future hold for Madison area real estate? Here's a quick review of our predictions for the year ahead. 

1) Mortgage rates will decrease slightly. The Mortgage Bankers Association is predicting rates for 30-year fixed rate mortgages to hover between 6.4% and 6.6%. 

2) Demand for Madison area real estate will remain strong. We expect our strong local economy, our region's national reputation, and climate migration will continue to fuel Dane County's growing population in the year ahead. 

3) New residential listings and sales will increase by 5 to 10 percent. New listings and sales have been quietly increasing in 2024. We expect this trend to continue into the new year as more people decide to enter the market. 

4) Home and condo

Please reach out to us and let us know what projects you need help with. We'd love to put you in touch with our preferred contractors who do great work and for a fair price. In fact, we just had one of our most trusted contractors reach out the other day letting us know they have hired more staff, and are ready for more appointments. 

Wishing you and yours a wonderful holiday season. 

Your friends at Mad City Dream Homes