Madison space condominium costs rise once more in November

Apartment costs within the Madison space continued to rise in November. That is in line with all three of our statistical metrics.

• Apartment costs per sq. foot rose 4% from $217 in November 2023 to $225 in November 2024.
• The typical condominium value elevated 9% from $313,410 to $342,417.
• The median condominium value elevated 14% from $270,000 to $306,500.

Newly constructed condominium property info

November was a sluggish month for condominium listings within the Madison space. Solely 70 Dane County condos had been listed on the market in November, down from 85 condos in November 2023. Our sense is that some persons are feeling a bit nervous about property planning due to the current election. We anticipate itemizing exercise to choose up once more in early 2025.

Dane County condominium stock

The provision of condos within the Madison space all the time decreases each December, however will increase once more on the opposite facet of the vacations. This yr isn’t any exception. Be aware, nevertheless, that the provision of condos is at the moment rather more plentiful than on the identical time final yr. It is a constructive pattern for consumers making ready to make purchases within the new yr.

Keep tuned for updates on the remaining condos coming quickly…

1619 Monroe Avenue #1, Madison, WI, 53711