Dane County home prices set new records in the month of July, fueled by strong buyer demand. Here's our latest update on the Madison area single family home market. 

July 2024 home prices

• The price per square foot rose from $224 in July of 2023 to $248 in July of 2024, an increase of 11 percent. 
• The average price rose from $506,389 to $569,541, an increase of 12 percent. 
• The median price jumped from $446,000 to $492,000, an increase of 10 percent. 

Year-to-date prices through July

• The price per square foot rose from $224 during the first 7 months of 2023 to $240 during the first 7 months of 2024, an increase of 7 percent. 
• The average price rose from $500,953 to $536,447, an increase of 7 percent. 
• The median price rose from $439,985 to $480,000, an increase of 9 percent. 

New MLS listings

New single family home listings have been moving in the right direction. A total of 586 homes were listed on the MLS in the month of July, which was up from both July of 2022 and July of 2023. In the bigger picture, we still need a lot more fresh supply in order to satisfy the demand for Dane County real estate. 

Available inventory

As of August 6th, a total of 643 single family homes (or 1.6 months of supply) were available for sale in Dane County. Available listings (those without an accepted offer) have been trending higher compared to each of the last 3 years, and inventory will continue to rise into the fall season, as it typically does each year.

Buyers who stay focused on their search will find more opportunities to purchase, with fewer competing buyers, and a little more room to negotiate in the months ahead. 

Accepted offers -- coming soon

Cash offers -- coming soon

Competing offers -- coming soon

Days on market -- coming soon

Dane County home sales -- coming soon