August Market Insights

In July 2026, more than one-third of all homes sold with competing offers—34.2% in Dane County and 38.6% in Madison. Multiple-offer situations have been a defining feature of our market since 2020, but why does that matter?

Because competition has a direct impact on a seller's bottom line.

In Dane County, homes that received multiple offers sold for an average of 4.5% above the asking price. Homes that did not receive competing offers sold for an average of 0.9% below asking price.

Using July's median sale price of $485,000, that's the difference between selling for approximately $506,825 versus $480,635—a gap of more than $26,000. For most homeowners, that's a meaningful difference in the amount they walk away with at closing.

The good news for buyers is that competition eased slightly from June. That's a normal seasonal pattern. As we move into late summer and fall, the market typically becomes a little less competitive, giving buyers more choices and, in some cases, greater negotiating leverage.

Overall, July's market looked much like the rest of 2026. Median sale prices (single-family homes and condominiums combined) were 3.4% higher than July 2025, although they slipped from the June peak of $499,000.

Year-to-date, the median sale price for 2026 stands at $469,900, compared with $450,000 during the same period in 2025. That number will likely trend downward over the remainder of the year, as it typically does seasonally. My expectation is that the year-end median will settle closer to $460,000.

The graph below illustrates how median sale prices have changed over the past three years and helps put this year's market into perspective.