Is Madison County, IN 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 County has remained a Seller's Market.
Housing Prices in Madison County, IN
How much do homes in Madison County, IN cost?
Median Sold Price
$185,150
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Madison County was $185,150 in May 2024, up 8% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $36.2K | $58K | +60.0% |
2 Bedrooms | $104.9K | $110K | +4.8% |
3 Bedrooms | $179.5K | $190K | +5.8% |
4 Bedrooms | $255K | $276K | +8.2% |
5+ Bedrooms | $316K | $368K | +16.5% |
Summary: Madison County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 16.5%.
Median Sold Price Compared To Nearby Counties
Henry County | $139.9K | $155K | +10.8% |
Madison County | $171.4K | $185.1K | +8.0% |
Hamilton County | $400K | $417.6K | +4.4% |
Delaware County | $142.9K | $144.9K | +1.4% |
Hancock County | $334.1K | $338.5K | +1.3% |
Housing Supply in Madison County, IN
How many homes are available in Madison County, IN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
486 | 525 | +8.0% |
Summary: The Madison County real estate market had 525 homes for sale in May 2024, a 8.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 9 | +50.0% |
2 Bedrooms | 103 | 114 | +10.7% |
3 Bedrooms | 247 | 258 | +4.5% |
4 Bedrooms | 92 | 106 | +15.2% |
5+ Bedrooms | 38 | 38 | 0.0% |
Summary: The Madison County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
136 | 133 | -2.2% |
Asking Price vs. Sold Price
64 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 133 homes were sold or pending in Madison County in May 2024, down by 2.2% month-over-month. Of the 133 sold homes, 48% were sold under asking, 28% were sold at asking, and 24% were sold over asking.
Days on Market for Madison County, IN
How long does it take to sell a home in Madison County, IN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 25 Days | +11.4% |
Summary: Homes in Madison County had an average of 25 days on market in May 2024, up by 11.4% compared to last year.
Breakdown of Home Sale Times
94 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 133 homes were sold in Madison County; 71% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.