$3,266 Closing Credit*
$275,000
758 SqFt
2 Beds
•1 Full Bath
#1987372, John Schneider, Listing Office: EXIT Realty HGM
Is Madison, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
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 in Madison, WI
How much do homes in Madison, WI cost?
Median Sold Price
$400,749
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$25,929(+6.9%)
Key Takeaway
Homes in Madison have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Madison was $400,749 in September 2024, up 6.9% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $267.5K | +7.0% |
| 2 Bedrooms | $280K | $302.5K | +8.1% |
| 3 Bedrooms | $388.7K | $407.1K | +4.7% |
| 4 Bedrooms | $535K | $525K | -1.9% |
| 5+ Bedrooms | $750K | $691.5K | -7.8% |
Summary: Madison housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 7.8%.
Median Sold Price Compared To Nearby Cities
| Madison | $374.8K | $400.7K | +6.9% |
| Monona | $430K | $450K | +4.7% |
Housing Supply in Madison, WI
How many homes are available in Madison, WI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 849 | 796 | -6.2% |
Summary: The Madison real estate market had 796 homes for sale in September 2024, a 6.2% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 36 | 29 | -19.4% |
| 2 Bedrooms | 214 | 214 | 0.0% |
| 3 Bedrooms | 386 | 349 | -9.6% |
| 4 Bedrooms | 178 | 162 | -9.0% |
| 5+ Bedrooms | 35 | 42 | +20.0% |
Summary: The Madison housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 19.4%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 282 | 195 | -30.9% |
Asking Price vs. Sold Price
69 Homes Were Sold
Under Asking
47 Homes Were Sold
At Asking
79 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison, you could pay more than the asking price. 40.5% of homes here sold above asking price last month.
Summary: A total of 195 homes were sold or pending in Madison in September 2024, down by 30.9% month-over-month. Of the 195 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% were sold over asking.
Days on Market for Madison, WI
We’re sorry, we don't have information for this market at the moment
