Is Madison Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Madison Township has remained a Seller's Market.
Housing Prices in Madison Township, OH
How much do homes in Madison Township, OH cost?
Median Sold Price
$209,000
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Madison Township was $209,000 in May 2024, up 4.5% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $118.7K | - | N/A |
2 Bedrooms | $149.9K | $120K | -19.9% |
3 Bedrooms | $195K | $200.5K | +2.8% |
4 Bedrooms | $245K | $249.9K | +2.0% |
5+ Bedrooms | $356.5K | $248.2K | -30.4% |
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 19.9%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 30.4%.
Median Sold Price Compared To Nearby Cities
Franklin Township | $241.3K | $265K | +9.8% |
Newark | $208K | $227.4K | +9.3% |
Newark Township | $217.4K | $227.4K | +4.6% |
Madison Township | $199.9K | $209K | +4.5% |
Housing Supply in Madison Township, OH
How many homes are available in Madison Township, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 70 | +18.6% |
Summary: The Madison Township real estate market had 70 homes for sale in May 2024, a 18.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 13 | +44.4% |
3 Bedrooms | 34 | 36 | +5.9% |
4 Bedrooms | 10 | 16 | +60.0% |
5+ Bedrooms | 6 | 5 | -16.7% |
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 44.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 60%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 23 | +35.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Madison Township in May 2024, up by 35.3% month-over-month. Of the 23 sold homes, 22% were sold under asking, 43% were sold at asking, and 35% were sold over asking.
Days on Market for Madison Township, OH
How long does it take to sell a home in Madison Township, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 43 Days | +19.0% |
Summary: Homes in Madison Township had an average of 43 days on market in May 2024, up by 19% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Madison Township; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.