Prices keep rising for single family homes, and they're rising for condominiums, too. Here's our latest update on all of the important trends in the Madison area condo market.

January Dane County condo prices

The price per square foot increased by 12 percent year-over-year, while the average price and median price increased by 13% and 7%, respectively.

New MLS listings

A scarcity of new listings is one big reason for higher prices. Only 94 condos were listed for sale last month, which was a new low for the month of January.

Months of supply

As of February 12th, only 86 condo listings were available for purchase, which is the equivalent of .6 months of inventory. Where will inventory go from here? Check out this recent article for our thoughts on this topic.

Days on market

With historically low levels of supply, Dane County condos continue to sell very quickly. The average days on market in January was only 27 days, which was a new low for the month.

Accepted offers

Buyer demand continues to be very strong, but a lack of supply is limiting the number of condos going under contract in early 2022.

Dane County condo sales

Condos sales (or closings) were strong in the month of January, despite persistently low levels of supply. This is a clear indicator of very strong buyer demand in Dane County.

Buying and selling a condo in 2022

With so many real estate agents in the Madison area right now, and with so much noise in the media and social media about the market, it can be hard to know who and what to trust. We're here to bridge that trust gap for you. 

What real estate goals are you aspiring to accomplish in 2022? And what questions do you have about the market? We're just a phone call away anytime you're in need of a helpful, straight-forward consultation.