Dane County home prices rose once again last month, and by all measures. Here's our full report on the Dane County single family home market.
Dane County home prices
The price per square foot, average price, and median price all rose last month.
The price per square foot increased from $242 in February of 2024 to $251 in February of 2025, an increase of 4 percent. The average price jumped from $494,776 to $546,940, a jump of 11 percent. The median price grew from $452,650 to $473,700, up 5 percent. We do expect prices to continue to rise this year, based on current supply and demand trends.
New MLS listings
The number of new listings entering the market was lower in February, decreasing by 8 percent from the year before. A total of 449 Madison area homes were listed for sale last month, compared to 489 twelve months ago.
Accepted offers
MLS listings decreased 3 of the last 4 months, so buyers had less fresh inventory to choose from in February. A total of 352 Dane County homes went under contract last month, down 12 percent from the 402 contract signings last year.
Available inventory
The number of available listings (those without an accepted offer) continues to improve compared to previous years, which is a positive trend for our market. A total of 532 Dane County single family home listings were available for sale on March 14th, which was up from our March snapshots from each of the last 3 years. Still, we have only 1.3 months of supply available for purchase in Dane County. We will need to continue to grow our local supply in order for prices to moderate in the years ahead.
Note from the chart below that available listings follow a seasonal pattern. Available listings are lowest during the first half of the year when buyer competition is highest, while listings are highest during the second half of the year when fewer buyers are out searching for a home.
Days on market
Marketing times have risen slightly from the historic lows of the pandemic market. In the big picture, they are still very low compared to most other years this century.
Dane County home sales
A total of 268 Dane County homes sold (closed) in February, up 7 percent from the 251 a year ago -- a sign that buyer demand remains strong in the Madison area.
Our early read on March
We do expect new listings and accepted offers to increase this month, based on our early read of the March numbers. Demand for Madison area real estate is strong this spring, mortgage rates have dropped a little bit, and we fully expect prices to continue to appreciate based on all of the trends we're seeing in the market right now.
Of course, every real estate scenario is unique. We're always happy to meet with you in person, learn more about your specific situation, and help you make the right plans for your future.