Madison Real Estate New Construction
Madison and the surrounding communities are currently ranking as the fastest growing in Wisconsin. No surprise there as Dane County has so much to offer its citizens including both city and rural living. Though overall the real estate market has slowed down the past few months, new construction is still a hot commodity in Dane County.
In the past year approximately 500 new construction homes have been sold in Dane County. The average selling price checks in at $350,000. The lowest new construction home price in 2021 has been $225,000 while the highest comes in at $1.5 million. Home sizes and locations have varied, although most new construction sales are happening on either the West or East borders of Madison. Currently there are approximately 125 new construction homes listed on the market in Dane County. Of these 125 listings, 25% have accepted offers with the average market time of 1.5 months.
Madison real estate new construction is a booming market. More people are choosing to build new construction versus buy existing because the list of must-haves in a home is ever changing and hard to come by in an existing home. Some of the current most popular trends in new build construction include: 9 foot ceilings, large laundry/mud room, walk-out lower level, mother-in-law suite, big great room, smart technology, energy efficient, large primary suite, large closets, and a 3-4 car garage.
Though the real estate market is currently competitive with lack of inventory and high prices, the new construction market in Madison is holding strong. If you are interested in a new build home in Madison or the surrounding areas, contact us today!