Madison area condo report for June, 2025

Dane County condo prices were up slightly in June, while new listings increased and accepted offers decreased. Here’s our transparent view of the June Madison area condo market, along with our review of the first 6 months of 2025. 

Note all of our statistics are sourced from the South Central Wisconsin MLS database. 

Dane County condo prices 

June Dane County condo prices

• The price per square foot grew from $235 in June of 2024 to $238 in June of 2025, an increase of 1 percent. 
• The median price grew from $325,000 to $328,300, up 1 percent.  
• The average price edged slightly higher from $362,873 to $363,974, up three-tenths of a percent. 

Year-to-date condo prices

• The price per square foot grew from $227 in the first 6 months of 2024 to $236 in the first 6 months of 2025, an increase of 4 percent. 
• The year-to-date median price grew from $305,000 to $325,000, up 7 percent.  
• The year-to-date average price grew from $337,616 to $367,289, an increase of 9 percent. 

 

New condo listings

A total of 187 Madison area condos were listed for sale in the month of June, an 18 percent increase from the 159 in June of 2024. However, new listings through the first 6 months of the year are down by 2 percent from the year before. 

 

 

Accepted offers

A total of 115 Dane County condos went under contract in June, down 22 percent from the 147 in June of 2024. This was the lowest June accepted offer total since 2011, when 98 condos went under contract. Through the first 6 months of the year, accepted offers are down by 2 percent from the year before. 

 

 

Dane County condo inventory

Madison area condo supply (inventory without an accepted offer) has been steadily growing over the last 3 years. As of July 4th, 243 Dane County condos were available for purchase — up from 174 condos in July of 2024, and 90 condos from July of 2023.

Dane County now has the equivalent of 2.1 months of condo supply. Inventory is clearly growing and offering buyers more selection, which is a positive and much needed development for our market. 

 

Competing offers 

As Madison area condo supply has grown, competing offers have decreased, and are now trending along pre-pandemic levels. According to our preliminary numbers for the month of May, 36 percent of all contract signings involved multiple offers. Compare this to: 

• 38 percent in May of 2024 (black line in chart below) 
• 49 percent in May of 2023 (green line in chart below) 
• 34 percent in the May 2019 pre-pandemic market (blue line in chart below) 

Note from the chart below that competing offers follow a seasonal pattern each year, peaking in the springtime market, followed by a steady decline all the way into the month of December. 

 

Days on market

Marketing times are trending higher as condo supply moves higher, but still remain low compared to most other years this century. The average days on market in June was 31 days, up from 25 days in June of 2024. Through the first 6 months of the year, the days on market was 36 days, up from 22 days through the first 6 months last year. 

 

Dane County condo sales

A total of 133 Madison area condos sold (closed) via the MLS in June, down 13 percent from the 153 in June of 2024. Through the first six months of the year, sales are up by 5 percent. We do expect condo sales to decrease in July due to the dip in accepted offers in June. 

 

 

Dane County expired condo listings

An expired listing is a completed listing that does not result in a sale. A total of 88 Dane County condo listings expired through the month of June, up from 63 the year before. Expired listings are clearly trending higher in 2025, but remain very low compared to most other years this century.  

 

 

The big picture 

We’re seeing a little more balance return to the Madison area condo market. Selection for buyers is improving, and in many cases buyers have more opportunities to negotiate more favorable terms compared to other years in the recent past.

For sellers, the fundamentals of pricing, preparation, and presentation are becoming increasingly important as inventory continues to grow. 

Call us when you’re ready for a helpful consultation about your condo buying or selling goals. It would be our pleasure to serve you.