Why So Few New Condos in Madison? What I Told WKOW

New homes and apartments keep going up around Madison, but new condos barely do. I spoke with WKOW Channel 27 about why, and what it means for buyers. Plus fall events, a winter-prep tip, and a new west side rental!

Why Isn’t Madison Building More Condos?

I recently sat down with WKOW Channel 27 to talk about something a lot of buyers have noticed: new houses and apartment buildings keep going up around the Madison area, but new condos barely get built.

The numbers. A Wisconsin Policy Forum report found that condo construction in Madison has been close to zero for years, a slump that started after the Great Recession and never really reversed.

Why it’s happening. Three main reasons: developers struggle to get financing for condo projects and with there being less tax revenue for the municipalities on condo’s, even developers willing to build them are getting shut down, building materials and borrowing costs have climbed, and builders worry about liability if buyers later find construction defects.

Is there demand? Absolutely! Smaller households, like younger first-time buyers and older adults looking to downsize, are a natural fit for condo living, and Wisconsin has a slightly higher share of smaller households than the national average.

What that means for buyers. With so little new supply, most buyers are choosing between older condos and other housing types.

• The average condo price right now is in the mid-$300,000s, plus monthly fees that can run several hundred dollars.
• A lot of the available condos are older and may need updates or maintenance, which makes buyers pickier.
• Newer condo developments exist, but many are priced at $600,000 or more plus fees, which tends to appeal to people downsizing from a larger home rather than first-time buyers.

Can anything change it? Policy changes could help: liability law reform, faster permitting, and easier rezoning for condo construction. But the biggest drivers, material costs and mortgage rates, are outside local control, and nobody expects a return to the 2000s boom. My own read: unless the economics of building and buying condos shift, I don’t expect much of an increase.

Read the full story on WKOW

Thinking about buying or selling a condo? Before you decide, read our earlier post on the new federal condo financing rules, then reach out and we’ll talk through your options and what would make the most sense for your specific situation!

See You at the Farm This Saturday!

If you RSVP’d to our Day on the Farm event, we’re looking forward to having you! Join us this Saturday, October 10th, from 9am–1pm at Enchanted Valley Acres for great food, family photos, and tons of fun activities.

This Weekend In Madison

• GLEAM at Olbrich Gardens
• Yoga Core — Monona Terrace — Oct 9, 12pm
• Food Truck Fridays — Garver Feed Mill
• Madison Ballet: Kids in the Rotunda — Oct 10
• Dogtoberfest — The Boneyard — Oct 10
• Stars Hollow Days — Middleton — Oct 10–11
• Moon Over Monona — Oct 16 — RSVP required!

Andrew’s Home Maintenance Tip: Check Weatherstripping on All Exterior Doors

Worn or compressed weatherstripping is one of the biggest sources of heat loss in Wisconsin winters. Close each exterior door and inspect for light gaps along the edges, or feel for drafts on a cool day. Replace any weatherstripping that’s cracked, flattened, or missing — it’s an inexpensive fix available at any hardware store. Don’t forget the door sweep at the bottom; it’s especially important for keeping cold air and small pests out once temperatures drop. Winter is coming!

New Rental Coming Soon: 510 N Meadow Ln, Madison WI

Phenomenal west side location! This beautifully remodeled home, updated within the last 5 years, is ready for its next caretaker! With multiple living spaces, modern updates and appliances, and a gorgeously landscaped front and back yard, this home balances convenience with privacy exceptionally well.

Inside, you’ll find 4 bedrooms with a 5th room in the lower level that does not have egress, 2 full bathrooms, 2 spacious living rooms, a large kitchen with a dedicated dining area, a 1-car attached garage, a laundry room, and an additional storage room providing plenty of space for families, working from home, or simply enjoying extra room to spread out.

Step outside to a fully fenced backyard with a 6-foot privacy fence, creating the perfect place to relax or entertain. The yard features a beautiful paver patio with a built-in campfire area, ideal for evenings with family and friends, while the grassy area offers room for children to play, pets to enjoy, or gardening. The paved driveway accommodates up to five vehicles, making parking easy for both residents and guests.

Located in one of Madison’s most desirable neighborhoods, this home is just minutes from schools, parks, shopping, restaurants, UW Hospital, and the University of Wisconsin campus. Whether you’re looking for extra space, a peaceful backyard, or a convenient location close to everything, this home has it all!

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