$4,750 Closing Credit*
$400,000
1,811 SqFt
2 Beds
•2 Full Baths, 1 Partial
#1990869, Sam Jessup, Listing Office: Pinnacle Real Estate Group LLC
Is Madison, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$404,675
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,536(+6.5%)
Key Takeaway
Homes in Madison have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Madison was $404,675 in November 2024, up 6.5% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270K | $240K | -11.1% |
| 2 Bedrooms | $284K | $305K | +7.4% |
| 3 Bedrooms | $390K | $410K | +5.1% |
| 4 Bedrooms | $530K | $539K | +1.7% |
| 5+ Bedrooms | $721.4K | $716.4K | -0.7% |
Summary: Madison housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
| Blooming Grove | $400.4K | $440.8K | +10.1% |
| Madison | $380.1K | $404.6K | +6.5% |
| Monona | $447.6K | $450K | 0.5% |
Housing Supply in Madison, WI
How many homes are available in Madison, WI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 764 | 659 | -13.7% |
Summary: The Madison real estate market had 659 homes for sale in November 2024, a 13.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 37 | 36 | -2.7% |
| 2 Bedrooms | 197 | 169 | -14.2% |
| 3 Bedrooms | 339 | 296 | -12.7% |
| 4 Bedrooms | 149 | 125 | -16.1% |
| 5+ Bedrooms | 42 | 33 | -21.4% |
Summary: The Madison housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 2.7%, 2 bedroom homes decreased by 14.2%, 3 bedroom homes decreased by 12.7%, 4 bedroom homes decreased by 16.1%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 195 | 190 | -2.6% |
Asking Price vs. Sold Price
78 Homes Were Sold
Under Asking
43 Homes Were Sold
At Asking
69 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison, you may be able to get a good deal. 41.1% of homes here sold below asking price last month.
Summary: A total of 190 homes were sold or pending in Madison in November 2024, down by 2.6% month-over-month. Of the 190 sold homes, 41% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for Madison, WI
We’re sorry, we don't have information for this market at the moment
