Dane County condo prices rose again in June, spurred by low supply and strong demand. Here's our latest update on the Madison area condominium market. 

June condo prices

• The price per square foot rose from $218 in June of 2023 to $235 in June of 2024, an increase of 8 percent. 
• The average price rose from $342,102 to $361,592, an increase of 6 percent. 
• The median price jumped from $314,760 to $325,000, an increase of 3 percent. 

Year-to-date prices

• The price per square foot grew from $211 during the first 6 months of 2023 to $227 during the first 6 months of 2024, an increase of 8 percent. 
• The average price grew from $327,847 to $336,777, an increase of 3 percent. 
• The median price grew from $295,000 to $305,000, an increase of 3 percent. 

New condo listings

Some newer condominium developments have arrived to the Madison area condominium market, but listing activity was subdued in the month of June. A total of 153 condos were listed for sale last month, which was the lowest total for any month of June in the last 24 years. 

Dane County condo supply

The number of active listings (those without an accepted offer) has been quietly improving in 2024 and is creating more opportunities for buyers this summer. As of July 7th, 174 condos (or 1.6 months of supply), were available for sale in Dane County. 

Accepted offers

June contract signings increased slightly from June of 2023, but beyond that were the lowest since June of 2012. 

Stay tuned for the rest of our condo market update, coming real soon...