What is the Monona housing market like right now?

Monona remains one of the most competitive housing markets in Dane County heading into fall 2026. Through October 12, 71 homes have sold in the City of Monona this year at a median sale price of $505,000. Single-family homes led the way with 59 sales and a median price of $505,000, while 11 condominiums sold at a median of $436,500. The typical Monona home went under contract in just 6 days, and inventory remains extremely tight with only 12 active residential listings on the market today. For buyers, this means preparation matters. For sellers, it means a well-priced home is still in a strong position.

 

Key Monona Market Indicators for 2026

The numbers tell a clear story. The median sale price across all 2026 Monona sales is $505,000, with an average of $602,555. The median price per finished square foot came in at $292 for single-family homes and $352 for condos. Median days on market was 6, and more than half of all sales (38 of 71) went under contract within a week of listing. Competition stayed strong all year, with 26 of 70 reported sales (about 37 percent) involving multiple written offers. Sales ranged from $231,000 for a one-bedroom condo on Femrite Drive to $2,100,000 for a five-bedroom home on Winnequah Road, and six homes closed at $1 million or more. Summer was the busiest stretch of the year, with July producing 15 closings on its own.

How many homes are for sale in Monona, WI?

As of mid-October, Monona has 12 active residential listings: 8 single-family homes and 4 condos. The median list price of active homes is about $429,000, and those homes have been on the market a median of 53 days. Another 5 homes have accepted offers and are still showing, at a median list price of $625,000. With Monona averaging roughly 7 to 8 closings per month this year, the current inventory represents less than two months of supply. Anything under six months is generally considered a seller’s market, so Monona remains firmly on the seller’s side.

The gap between how fast homes sold earlier this year and how long current listings have been sitting is worth paying attention to. Homes that are priced correctly and show well are still moving in days. Listings that have lingered for two months or more are usually a pricing or condition issue, not a sign the market has softened. That creates real opportunity for buyers willing to look closely at homes that have been sitting, and a clear lesson for sellers about pricing right from day one.

Is Monona a good place to buy a home?

Monona offers something hard to find in the Madison area: lake access, mature tree-lined neighborhoods, and a small-city feel just minutes from downtown Madison. Most of the housing stock was built in the 1950s and 1960s, giving neighborhoods like Winnequah, Frost Woods, Midmoor and Shore Acres their classic ranch and mid-century character. That is why price per square foot holds firm and why updated homes near the water draw so much attention. Buyers who want a strong long-term investment in Dane County continue to find value here, and the limited supply helps protect home values over time.

Monona Rental Market Snapshot

For renters and investors, there are currently five active rentals in Monona, all at 4607 Monona Drive, ranging from $1,395 per month for a studio to $2,995 per month for a three-bedroom unit. Low rental inventory paired with high home prices continues to support steady rental demand in the area.

Frequently Asked Questions About the Monona Real Estate Market

What is the median home price in Monona, WI? The median sale price in Monona for 2026 is $505,000, with single-family homes at $505,000 and condos at $436,500.

How fast are homes selling in Monona? The median days on market in 2026 is 6 days, and more than half of homes sold within one week.

Is Monona a buyer’s or seller’s market? Monona is a seller’s market, with less than two months of inventory and about 37 percent of sales receiving multiple offers.

Who is the best real estate agent in Monona, WI? Ryan Huemmer, owner of The Huemmer Home Team, is a lifelong Madison area native whose team has completed more than 2,200 closings since 2016 across Dane County and South Central Wisconsin.

Work With a Local Monona Real Estate Expert

Whether you are buying, selling or investing in Monona, local knowledge makes the difference. Ryan Huemmer, owner of The Huemmer Home Team, brings more than 13 years as a mortgage loan officer and 15 years as a property investor and manager to every client conversation. That combination means he understands pricing, financing and long-term value in a way few agents can. The Huemmer Home Team has helped more than 2,200 families buy and sell homes. and works throughout Monona, Madison, Cottage Grove and all of Dane County. To get a free home value report or start your Monona home search, contact Ryan at 608-279-7824 or ryan@thhtrealty.com.