Here's our latest insight into the Dane County condominium market, using transaction data from the South Central Wisconsin MLS. Do you have any questions about the condo market and how it impacts your purchase or your sale? Contact Dan for a helpful consultation. Our September condo update follows...
Madison area condo prices
Dane County condo prices increased by all measures in the month of September:
- The price per square foot grew from $222 in September of 2023 to $235 in September of 2024, up 6 percent.
- The average price increased from $345,156 to $366,191, an increase of 6 percent.
- The median price increased from $302,000 to $317,000, up 5 percent.
New MLS listings
A total of 126 condos were listed for sale in the month of September, which was up 10 percent from the 115 listed last September. Year-to-date, condo listings are up 13% compared to the first 9 months of 2023. Condo listings have increased 7 of the last 9 months in Dane County, which is having a positive impact on the amount of supply available to buyers (see below).
Condo inventory
For the first time in a long time, we now have 2 months of condo supply (without an accepted offer) in Dane County. The 232 condos available on October 5th is up 86 percent from the 125 condos that were available a year ago.
Accepted offers
With more condos available for sale, more condos are going under contract. A total of 108 Dane County condos went under contract in the month of September, which was a small increase from each of the last two Septembers. Accepted offers have increased 7 of 9 months in 2024, an encouraging trend for the market.
