Home prices continued to rise in the month of May, and by all measures. Here's our latest report and commentary on the Madison area single family home market.
Dane County home prices
The price per square foot grew by 6 percent year-over-year, and by 7 percent year-to-date.
Dane County home prices were up by all measures:
- The price per square foot grew from $230 to $244 in the month of May (an increase of 6 percent).
- The average price grew from $519,479 to $550,576 (up by 6 percent).
- The median price increased from $450,000 in May of 2023 to $494,000 in May of 2024 (up by 10 percent).
New MLS Listings
Listing activity improved slightly in the month of May (an encouraging trend), but remained low compared to most other years this century. We expect home values to continue to appreciate throughout the year, due the the limited supply of new listings hitting the market.
