Dane County home prices edged higher for all 3 of our measures in November, as accepted offers increased and new listings decreased. Here's our deep dive into the November Madison area single family home market.
Note all of our statistics are sourced from the South Central Wisconsin MLS database.
Dane County home prices
November Madison area home prices
- The price per square foot increased from $243 in November of 2024 to $246 in November of 2025, up 1 percent.
- The median price increased from $470,000 to $479,475, up 2 percent.
- The average price moved higher from $522,165 to $540,518, up 4 percent.
Year-to-date home prices through November
- The price per square foot grew from $241 in the first 11 months of 2024 to $252 in the first 11 months of 2025, an increase of 4 percent.
- The year-to-date median price moved higher from $475,000 to $482,500 -- up 2 percent.
- The year-to-date average price grew from $536,032 to $563,506, an increase of 5 percent.
Where will Madison area home prices go in 2026?
We're forecasting local home prices to grow 3 to 5 percent in the coming for year, with Dane County inventory and sales rising moderately, too. Check out this recent post for all of our 2026 real estate predictions.
New MLS listings
A total of 251 Dane County homes were listed for sale in November, down 8 percent from the 273 listings in November of 2024. Through the first 11 months of the year, single family home listings were up 1 percent from the year before.
Accepted offers
A total of 326 Dane County homes went under contract in November, up 3 percent from the 317 accepted offers in November of 2024. This marks the third month in a row of year-over-year increases, coinciding with mortgage rates dropping in September.
Through the first 11 months of the year, accepted offers are down slightly (.5 percent) from the year before.
Dane County home supply
A total of 666 Madison area homes were available for sale (without an accepted offer) on December 6th. This is the equivalent of 1.6 months of inventory in Dane County. Note from the chart below: Inventory is up 12 percent from the 595 homes available for sale a year ago, and up 41 percent from the 474 homes available two years ago.
We do expect Dane County home supply to continue to grow at a moderate pace in 2026. For more info, check out our 2026 predictions here.
Competing offers
According to our preliminary data for the month of October, 30 percent of the Madison area homes that went under contract in October received multiple offers. Note from the chart below that competing offers have decreased from the levels of 2021, a peak year for multiple offers in our market. With inventory improving over these last two years, competing offers are now trending closer to pre-pandemic (2019) levels.
Also note from the chart below the seasonality of the Dane County real estate market. Competing offers and bidding wars are most common during the first 6 months of the year, and least common during the second half of the year. The competition for Madison area real estate will ramp up quickly on the other side of the holidays.
Expired listings
Expired listings (listings that do not result in a sale) are also trending closer to pre-pandemic levels. A total of 800 Dane County single family home listings expired without selling through the first 11 months of the year, compared to 711 the year before, an increase of 13%.
The trend toward more expired listings is a sign of our market becoming more balanced. In our more balanced market, sellers are learning that they need to apply the fundamentals for a successful sale.
Buyers, on the other hand, are learning that they have more properties to choose from, more time to ask follow-up questions, and a better ability to negotiate in our more balanced market.
Days on market
Days on market are also trending higher, another sign of a more balanced market. The average days on market in November was 38 days, up from 35 days in November of 2024.
Through the first 11 months of the year, the average days on market was 30 days, compared to 26 days during the first 11 months of 2024.
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