Madison house condominium costs build up 7 % in February

Dane County condominium costs persisted to upward thrust in February, as consumers persisted to compete for a restricted provide of condominiums. This is our newest apartment replace, overlaying all the newest tendencies in Dane County — up to date for the month of February, 2023. 

Dane County condominium costs

The fee in keeping with sq. foot larger through 7 % year-over-year, whilst the median and the typical worth larger through 24 % and 23 %, respectively. Be mindful those numbers are in keeping with a moderately small selection of gross sales within the month of February. We totally be expecting the median and the typical costs to average as we gather extra gross sales information this spring. 

 

New MLS apartment listings

Simplest 96 condominium listings entered the marketplace in February, which used to be the bottom February general for the reason that 12 months 2000. New listings have been down 36 % from the 149 condos indexed on the market ultimate 12 months. 

 

Lively listings

Lively listings (the ones with out an authorized be offering) have reached a brand new low for the Dane County condominium marketplace. As of March fifteenth, there are handiest .5 months of condominium provide in the entire county. 

 

Permitted provides

With fewer condominium listings getting into the marketplace, fewer contracts are being written, too. Permitted provides have been the bottom for any month of February since February of 2012. 

 

Dane County condominium gross sales

February condominium gross sales have been in fact reasonably robust, given the low stage of provide within the Madison house. 

 

Rental days on marketplace

Advertising instances are up moderately in 2023. However within the giant image, days on marketplace stay very low. 

 

For extra condominium marketplace perception

Please touch our realtor crew for a useful dialog. We are right here that will help you navigate our at all times converting marketplace, and at all times to be had that will help you plan on your long term.