Dane County condo prices were mixed in May, while new listings and accepted offers both increased. Here's our deep dive into the May Madison area condo market. Note: All of our data is sourced from the South Central Wisconsin MLS.
What questions do you have about buying or selling a condo in the Madison, Wisconsin area? Reach out to one of our condo specialists for a helpful consultation.
Dane County condo prices
May Madison area condo prices
- The price per square foot was $242, up 1 percent from $239 in May of 2025.
- The median price decreased from $335,500 in May of 2025 to $320,000 in May of 2026, down 5 percent.
- The average price increased from $387,679 to $388,745, up a fraction.
Year-to-date condo prices through May
- The price per square foot decreased from $238 in 2025 to $234 in 2026, down 1.5 percent.
- The median price decreased from $325,000 to $310,000, down 5 percent.
- The average price decreased from $371,063 to $354,779, down 4 percent.
A few comments about condo prices in early 2026
Some condos continue to sell very quickly this year and for record-high prices within their association. Conversely, some condos are selling for lower prices while taking longer to find the right buyer.
One big reason for this is this year's buyers are more selective compared to buyers in previous years. They're more hesitant to take on the costs of repairs and updates when they also consider their monthly mortgage payment, condo fees, and property taxes. However, they're also willing to pay a premium for the condo where all of the repairs and updates have already been addressed for them.
Also note from the chart above, condo prices are up 57 percent from the 2019 pre-COVID market, and up 115 percent from the most recent market bottom in 2012. If you've purchased a condo in the last 5 to 15 years, you've likely accumulated a significant amount of equity in your investment.
If you're planning to buy or sell a condo in 2026, we encourage you to reach out to one of our condominium experts. We'll help you make good decisions and create a solid plan that addresses all of your condo goals.