Here's our newest look into the Madison area condo market, starting with the price trends for October, 2023.

Dane County condo prices

On a year-over-year basis:

• The price per square foot increased from $208 to $223 (7 percent). 
• The median price increased from $262,450 to $303,000 (15 percent). 
• The average price increased from $308,198 to $344,720 (12 percent). 

On a year-to-date basis:

• The price per square foot increased from $203 to $215 (6 percent). 
• The median price increased from $266,100 to $300,000 (13 percent). 
• The average price increased from $300,421 to $334,778 (11 percent). 

New Dane County condo listings

One big driver of high prices is the low supply of fresh listings. Only 87 Dane County

We'll release our October real estate reports real soon. In the meantime, here's our early read on new listings in the Madison area. 

Single family homes

Listings continued to enter the market at a slow pace. Only 382 Dane County single family home listings were posted to the MLS in October, which was the lowest for any month of October on record.

Condos

Listing activity in the condo market was also light. Only 87 condos were listed for sale in October, which was the lowest for any month of October in the last 21 years.

With listings continuing to enter the market at a slow pace, we expect prices to remain elevated for the foreseeable future. Stay tuned for our more comprehensive market reports -- including price, sales, and days on

Recently we helped our client sell his family's longtime home on the westside of Madison. This was a unique sale, because our client lived outside of the area, and the home needed some attention before it went on the market. 

So Mad City Dream Homes stepped in as the project manager and oversaw all of the work that would benefit the sale. In all, we contacted and coordinated work with 9 different contractors who worked on projects that included plumbing, electrical, chimney, gutter, landscaping, and a handful of cosmetic updates. 

In the end, our client closed with a fast and full-price offer, thanks in part to the work of so many excellent contractors. 

Whether you need nine contractors for your own home or only one, we're happy to help you make

One big benefit of being on a multigenerational team is our opportunity to retire gracefully: When it's time for us to retire, we have teammates who are ready to step in and capably serve our clients and friends.

A referral partnership like this is unique and win-win for everyone:

The client wins by working with a group of true professionals. The team wins with each new client it serves. While the retiring agent benefits by receiving referral income well beyond her working years. 

Best of all, the team carries on the retiring agent's tradition of creating goodwill in the community. A tradition that gets passed on to the next generation, and beyond...

In just the click of a button, a website like Zillow will give you access to all of the latest listings in Dane County. But the thing is, in a fast-moving market like ours, a website like Zillow won't get you into your dream home. 

But a good plan with a skilled agent will. And a good plan always begins with a conversation. A conversation that centers on your goals and a clear set of next steps. 

Call us when you're ready for a conversation. We'd love to help. 

We’re excited to announce that Amanda Verbrick has joined Mad City Dream Homes! 

Amanda has a unique background that includes real estate sales, real estate operations, and non-profit operations. Prior to working in real estate, Amanda worked for 6 years with the Wisconsin Women's Health Foundation.

Amanda brings a wonderful skill set to our team, where she'll be focusing her time on marketing, operations, and helping her clients with their buying and selling goals. When she's not working, Amanda enjoys camping, reading, spending quality time with loved ones, and trying new recipes. 

You can learn much more about Amanda here. 

None of us has all the right answers. But within the context of a supportive and well-rounded team, we have access to a lot more of them. This is the beauty of working with a multigenerational team. 

Most of us who are in real estate are taught early on in our careers how to promote and sell. But the truth is, most of us are tired of selling and tired of being sold to.

A good alternative is to stop selling and start serving. Make helping a habit instead. And keep helping without any regard for compensation. Day after day after day...

Cash sales in the condo market are occurring much more frequently than in the pre-pandemic market. Through the first 9 months of 2023, a whopping 37 percent of all Dane County condos were purchased without a financing contingency.

A high percentage of cash offers is a clear sign of a competitive market. It's also an indicator of pent-up demand, where the number of buyers exceeds the number of condos for sale in Dane County.

Where will the condo market go from here?

Even though mortgage rates have been rising, we do anticipate strong demand, low supply, and steady price growth for the foreseeable future. Demand will be strong because Dane County continues to be an attractive career and retirement destination, while the condominium

Here's our latest insight into the Madison area condo market, starting out with a look at the latest price trends. 

Dane County condo prices

On a year-over-year basis:

• The price per square foot increased from $206 to $222 (8 percent). 
• The median price increased from $281,000 to $301,000 (7 percent). 
• The average price increased from $316,368 to $345,510 (9 percent). 

On a year-to-date basis:

• The price per square foot increased from $202 to $215 (6 percent). 
• The median price increased from $267,860 to $300,000 (12 percent). 
• The average price increased from $299,777 to $333,552 (11 percent). 

New condo listings

New condominium listings continued to enter the market at a slow pace. Only 112 condos were