December rental costs within the Madison space range

Listed below are the most recent unfiltered traits within the Dane County rental market, up to date for December 2024.

Dane County rental costs

Rental costs within the Madison space had been combined in December, however rose throughout all metrics for the 12 months. Do December’s numbers recommend that rental costs are about to fall? We do not suppose so. Condominium costs fluctuate considerably as a result of comparatively small variety of gross sales every month. Within the rental market, a couple of low-end or high-end gross sales can have a huge impact in your month-to-month value. Because of this, it is essential to concentrate to total traits reasonably than particular person metrics for a given month.

Condominium costs in December

• Value sq. footage decreased by 1 p.c from $224 in December 2023 to $221 in December 2024.
• Median value elevated 5% from $294,950 in December 2023 to $310,000 in December 2024.
• The typical value decreased by 3 p.c from $339,868 in December 2023 to $329,743 in December 2024.

Annual condominium value

• Value per sq. foot elevated 5% from $216 in 2023 to $227 in 2024.
• The median value rose 3% from $300,000 in 2023 to $308,000 in 2024.
• The typical value elevated 3% from $333,931 in 2023 to $344,641 in 2024.

Keep tuned for updates on the remainder of the rental market coming quickly…

1619 Monroe Road #1, Madison, WI, 53711