Is Madison Township, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Madison Township was a Neutral Market.
Key Takeaway
Madison Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison Township, IA
How much do homes in Madison Township, IA cost?
Median Sold Price
$418,000
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Madison Township have sold for 1% more than they did a year ago.
Summary: The median home sold price in Madison Township was $418,000 in May 2024, up 1% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $255.2K | $242.5K | -5.0% |
| 3 Bedrooms | $297.7K | $287.5K | -3.4% |
| 4 Bedrooms | $500K | $437K | -12.6% |
| 5+ Bedrooms | $595K | $597.5K | 0.4% |
Summary: Madison Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 12.6%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
| Lincoln Township | $445K | $508.5K | +14.3% |
| Madison Township | $413.6K | $418K | +1.0% |
| Polk City | $437.5K | $436K | -0.3% |
Housing Supply in Madison Township, IA
How many homes are available in Madison Township, IA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 44 | 0.0% |
Summary: The Madison Township real estate market had 44 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Madison Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison Township, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Madison Township in May 2024, up by 83.3% month-over-month. Of the 11 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% were sold over asking.
Days on Market for Madison Township, IA
How long does it take to sell a home in Madison Township, IA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 70 Days | +237.3% |
Summary: Homes in Madison Township had an average of 70 days on market in May 2024, up by 237.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madison Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Madison Township; 55% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
