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Dane County home prices continued to move higher in the month of August, and by all measures. Here’s our latest single family home update for the Greater Madison area.
Home prices
The price per square foot increased from $210 in August of 2022 to $220 in August of 2023, an increase of 5 percent. The median price increased by 1 percent, while the average price increased by 4 percent.
Through the first 8 months of the year, prices were also up by every measure:
- The price per square foot was up by 5 percent.
- The median was up by 5 percent.
- And the average was up by 7 percent.
New listings
New listings continued to enter the market at a slow pace. For only the second August this century, fewer than 500 homes were listed for sale in Dane County.
Inventory
Available listings (those without an accepted offer) are rising, as they normally does in the fall season. Still, inventory remains very low by historical standards. Prices will continue to rise for as long as inventory remains low.
Stay tuned for the rest of our market update, coming real soon…
1619 Monroe Street #1, Madison, WI, 53711
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