Real Estate Market Update, 4Q 2022

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4th Quarter Real Estate Market Update – Madison and Surrounding*

At the close of every quarter, we put together a quick review of the main real estate market stats and numbers from last quarter. This review gives the broad brush strokes, but it doesn’t dive into the small nuances. That’s why you should always talk to your real estate agent if you want to know the fine details of what’s really happening in your community.

Total number of Homes & Condos for Sale (as of 1/10/2023)

Single Family Homes 215
Condos 62

2nd Quarter Sales

Single Family Homes Condos
Homes Sold 834 287
Average Days on Market 23 20
Average Price Sold $464,396 $305,640
Low Price Sold $118,000 $90,000
High Price Sold $3,500,000 $1,475,000

*4th quarter dates, 10/1/22 – 12/31/22, *Areas Include: Madison, Fitchburg, Verona, Middleton, Waunakee, Sun Prairie, Monona, McFarland, Cottage Grove, Source: South Central Wisconsin Multiple Listing Service. Reflects entire market share from all brokerages.

Thinking about selling or buying in 2023? We can help you put together your plan for preparation and a timeline and assist you in evaluating what home updates will increase your value, connect you to recommended local experts, and guide you through negotiations.

If you are interested in learning more about Wisconsin’s housing statistics, click here. If you are interested in learning more about home sales in your specific neighborhood, we can set you up with email notifications. Email us at, let us know the neighborhood you live in and we’ll take care of the rest.

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