Spend a few minutes on social media, and it's plain to see our culture is obsessed with the spotlight and individual achievement. 

And yet the simple truth is, we do our best work when we step out of the spotlight and work as a team in service to others. 

This is why we're always working together, often behind the scenes, to take care of you. It may be counter cultural, but stepping out of the spotlight and quietly going about our work is our sweet spot -- and how we will continue to serve you for years to come. 

Here's our latest inside look at the Dane County condo market, using transaction data from the South Central Wisconsin MLS. Do you have questions about buying or selling a condo in the Madison area? Please feel free to contact us for a helpful conversation. We'd love to help you. Our August report follows...

Madison area condo prices

Dane County condo prices increased by all measures in the month of August:

• The price per square foot grew from $216 in August of 2023 to $228 in August of 2024, up 6 percent. 
• The average price increased from $329,506 to $363,719, an increase of 10 percent. 
• The median price increased from $313,000 to $320,000, up 2 percent. 

We're cautiously optimistic that improving inventory will help to control

If this is the type of career environment that resonates with you, then we would love to hear from you. Contact Dan or Amanda for coffee and a conversation. 

Our professional standards and expectations 

• We are present with our clients so they know through our words and our actions that we always have their best interests at heart.

• We are patient with our clients. We know that our clients are almost always experiencing stress. It is our job to help them navigate this stressful time through our own kindness and grace. 

• We over-communicate rather than under-communicate with our clients, colleagues, and other real estate professionals. We are professionals, which means we always communicate with a positive and

Our office on Monroe Street is in Suite #1, the first office door you encounter when you walk inside the building. Due to this, we regularly have people in the community (e.g. interviewees for our neighbors' businesses, delivery drivers, vendors) peek their heads inside and ask:

"Am I in the right place?"

We're happy to help these visitors. And we often get a similar question in our line of work from new potential clients. If you're unsure where to start in the home buying or selling process, you can always contact us. We'll always point you in the right direction - whether that be a lender, contractor, financial advisor, etc. - to make sure you're in the right place to successfully reach your goals. 

Here's our latest update on the Dane County single family home market. All numbers are sourced from the South Central Wisconsin MLS.  

August 2024 home prices

Madison area home prices continued to rise, and by all measures: 

• The price per square foot rose from $222 in August of 2023 to $244 in August of 2024, an increase of 10 percent. 
• The median price jumped from $430,000 to $470,000, an increase of 9 percent. 
• The average price rose from $498,836 to $555,057, an increase of 11 percent. 

New MLS listings

MLS listings have rebounded (slightly) above the historical low from August of 2022. 

Active listings

Active listings (those without an accepted offer) have been rising in 2024. For the first time

We're excited to share that our team helped 17 clients achieve accepted offers in the month of August. Even better, most of our client activity was in the more affordable price categories: 

• 5 of 17 clients were in the under $300,000 price category
• 11 of 17 were under $400,000 
• 15 of 17 were under $500,000

All of this positive activity suggests that the Dane County real estate market is becoming a little more free-flowing, with more homeowners choosing to sell their starter home and move onto their next stage of life. This, in turn, is creating more opportunities for first-time buyers to make their move into homeownership. 

We're cautiously optimistic that we'll see more months like the month of August in the year ahead. We'll keep you

Madison area home and condo supply continues to improve as we head into the fall season. Here's our quick update: 

Single family homes

As of September 6th, a total of 719 Dane County homes were available for sale (without an accepted offer) on the MLS. Home supply is up 65% from the same time last year. 

Condos

A total of 210 condos were available for sale on September 6th, up 69% from the same time last year. 

The big picture

With about 2 months of supply now available in Dane County, we are beginning to see a little more balance in the home and condo markets. Buyers are experiencing a little less competition, while some sellers are realizing that they need to adjust their pricing in order to attract the right buyer.

We're

Many of us in real estate have seen the "work hard, play hard" posts on social media. Posts that suggest we can we can enjoy the good life when we commit to the daily hustle and grind. If we're willing to consistently persevere through the long hours, the networking, and the phone calls, then we'll be able to achieve a level of success that allows us to cash in some of those hours for a dream vacation. Or maybe even a vacation home. 

The underlying message? Even if the work itself isn't all that enjoyable, the financial rewards make it all worth it. 

Of course the problem with "work hard, play hard" is a lack of balance. It tends to be either-or. On-off. Bouncing from one extreme to the other. Trading in extreme work for moments of play can take its

Last week we were reminiscing with a client about her home purchase 4 years ago. Four years ago, she wrote her offer for $15,000 over the list after we performed an extensive amount analysis to ensure she wasn't overpaying for her home. 

Our concerns about overpaying almost seem a little silly in hindsight. Dane County home values have grown by more than 40 percent over the last 4 years, which means our client's home is now worth about $250,000 more than what she paid for it. 

Our client's story is just the latest reminder that buying and holding real estate continues to be a time-tested way to build wealth. Of course it isn't necessarily easy to buy in this market. But if you can find a way to buy the right home for your current stage of life, it

Here's our simple graphic that lays out how pre-agency, sub-agency, and buyer agency work. In the big picture, not much has changed in the State of Wisconsin, because we've had buyer representation in place for many years. Yes, some of our forms and contractual language have recently changed, but for many clients the home buying experience will be the same as it has been for decades. 

If you're thinking of buying in the near future, you're likely to have questions. Reach out to your Mad City Dream Homes realtor for some sound guidance. We'll answer all of your questions for you and help you make sense of the new rules.