Is Madison, WI a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Madison is a seller's market


Difference Since August 2022

Since last year, Madison has remained a Seller's Market.

Key Takeaway

Madison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Madison, WI cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Madison have sold for 43% more than they did a year ago.

Summary: The median home sold price in Madison was $364,978 in August 2023, up 43% from last year, and the median price per square foot was $219.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $225K$250K
2 $236.7K$275K
3 $308.7K$385.4K
4 $440K$537.5K
5+ $527.7K$750K

Summary: Madison housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 24.9%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 42.1%.

Median Sold Price Compared To Nearby Cities


Housing Supply

How many homes are available in Madison, WI?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Madison real estate market had 638 homes for sale in August 2023, a 12.8% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 3534
2 164144
3 340288
4 153136
5+ 4036

Summary: The Madison housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 2.9%, 2 bedroom homes decreased by 12.2%, 3 bedroom homes decreased by 15.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

140 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Madison, you could pay more than the asking price. 63.3% of homes here sold above asking price last month.

Summary: A total of 221 homes were sold or pending in Madison in August 2023, down by 19.3% month-over-month. Of the 221 sold homes, 24% were sold under asking, 13% were sold at asking, and 63% were sold over asking.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings

Nearby Markets

What housing markets are near Madison, WI?