Competing offers continue to moderate in the Madison area, which we view as a healthy development for our local real estate market. Here are the latest competing offer trends for Dane County homes and condos. 

Single family homes

Based on our preliminary numbers for the month of August, the percent of listings receiving multiple offers has decreased 3 straight months compared to the year before. Note competing offers are still occurring much more frequently this year compared to the pre-pandemic (2019) market. 

Condos

Condo competing offers have been trending lower throughout all of 2024, but just like homes, continue to trend well above pre-pandemic levels. 

The big picture

Improving supply is helping to decrease the number of competing offers and bidding wars in the Madison area, which if the trend continues should help to moderate price growth in the months ahead. 

But we have a long way to go before competing offers return to more "normal" pre-pandemic levels. 

The bottom line is we do expect 2025 to be another highly competitive market. In the meantime, this fall is an excellent time to be shopping for real estate, for anyone seeking to avoid the chaos and competition of the spring buying season.