Dane County apartment costs ended the yr upper in 2023. This is our newest replace at the Madison house apartment marketplace.  

Dane County apartment costs

Condominium costs within the month of December:

• The cost according to sq. foot greater from $195 to $224 (15 p.c).
• The typical value greater from $308,754 to $339,868 (10 p.c). 
• The median value greater from $274,500 to $294,950 (7 p.c).

Annual value will increase (from 2022 to 2023): 

• The cost according to sq. foot greater from $203 to $216 (7 p.c).
• The typical value greater from $300,531 to $333,401 (11 p.c). 
• The median value greater from $268,000 to $300,000 (12 p.c). 

New apartment listings

Handiest 51 condos had been indexed on the market within the month of December, which used to be the 3rd lowest per month overall courting again to the yr 2000.  

Energetic listings

To be had apartment listings (the ones with out an approved be offering) are very with regards to the degrees from each and every of the ultimate two Januarys. Handiest 87 Dane County condos (or simply .8 months of provide) had been to be had as of January fifteenth, 2024. 

Permitted gives

Permitted gives greater quite year-over-year. However within the image, they continue to be low because of a loss of provide. A complete of 70 Dane County condos went below contract within the month December.

Money gives

Money gives are happening a lot more steadily at the moment than within the pre-pandemic marketplace. That is one transparent signal of pent-up call for for Madison house condos. 

Days on marketplace

Traditionally low advertising and marketing instances are some other transparent signal of pent-up call for. The typical days on marketplace in December used to be most effective 20 days, which used to be the bottom on file for the month. 

Dane County apartment gross sales

December apartment gross sales had been the bottom since 2011. A loss of recent apartment provide is restricting the choice of gross sales in Dane County. 

Madison house apartment costs will proceed to upward thrust in 2024… 

Call for is still robust whilst only a few new condominiums are being constructed. What questions do you have got in regards to the apartment marketplace within the coming yr? Please achieve out to us with all your actual property questions. We are right here to be a useful resource for you, and not with any gross sales force or spin.