Dane County Real Estate Market Trends 2024: What Buyers and Sellers Need to Know

The Dane County real estate market in 2024 reflects a dynamic balance of stability and change, shaped by evolving economic conditions, demographic shifts, and policy developments. After several years of rapid appreciation and low inventory, the market is showing signs of normalization while maintaining underlying strength driven by the region's diverse economy and continued population growth.

Current Market Snapshot

Key Statistics (Q3 2024)

Overall Market Metrics

• Median Home Price: $425,000 (up 4.2% year-over-year)


• Average Days on Market: 32 days (up from 28 days in 2023)


• Months of Inventory: 3.2 months (up from 2.1 months in 2023)


• Sale-to-List Price Ratio: 98.5% (down from 102% in 2023)


• Closed Sales Volume: 4,847 units (down 8% from 2023)

Price Ranges

• Under $300K: 18% of sales (down from 22% in 2023)


• $300K-$500K: 45% of sales (stable from 2023)


• $500K-$750K: 25% of sales (up from 22% in 2023)


• Over $750K: 12% of sales (up from 9% in 2023)

Geographic Market Analysis

Madison (City Proper)

Market Characteristics

• Median Price: $385,000 (up 3.8% YoY)


• Average DOM: 28 days


• Inventory: 2.8 months


• Sales Volume: 1,847 units (down 6%)

Key Trends

• Urban lifestyle preferences driving demand


• Increased interest from young professionals


• Public transportation improvements boosting certain areas


• Mixed-use development changing neighborhood dynamics

Middleton

Market Characteristics

• Median Price: $525,000 (up 5.1% YoY)


• Average DOM: 26 days


• Inventory: 2.9 months


• Sales Volume: 485 units (down 4%)

Market Dynamics

• Premium pricing supported by school district reputation


• Epic Systems employment driving consistent demand


• Limited inventory in desirable price ranges


• New construction struggling to meet demand

Contact Aries Investment LLC for comprehensive market analysis and expert guidance in today's evolving Dane County market.