Is Madison County, KY 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, KY
How much do homes in Madison County, KY cost?
Median Sold Price
$283,593
$116/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 $283,593 in May 2024, up 8.7% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $129.9K | $130K | 0.1% |
2 Bedrooms | $140K | $155.5K | +11.1% |
3 Bedrooms | $245.1K | $260K | +6.0% |
4 Bedrooms | $320.3K | $350K | +9.3% |
5+ Bedrooms | $397.5K | $400K | +0.6% |
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 0.1%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Counties
Estill County | $145K | $176.7K | +21.9% |
Jessamine County | $281.8K | $325.6K | +15.5% |
Madison County | $260.8K | $283.5K | +8.7% |
Clark County | $220.6K | $236K | +6.9% |
Garrard County | $250K | $260K | +4.0% |
Housing Supply in Madison County, KY
How many homes are available in Madison County, KY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
359 | 355 | -1.1% |
Summary: The Madison County real estate market had 355 homes for sale in May 2024, a 1.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 18 | 15 | -16.7% |
3 Bedrooms | 195 | 194 | -0.5% |
4 Bedrooms | 105 | 104 | -1.0% |
5+ Bedrooms | 39 | 38 | -2.6% |
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 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 2.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
99 | 98 | -1.0% |
Asking Price vs. Sold Price
46 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 98 homes were sold or pending in Madison County in May 2024, down by 1.0% month-over-month. Of the 98 sold homes, 47% were sold under asking, 23% were sold at asking, and 30% were sold over asking.
Days on Market for Madison County, KY
How long does it take to sell a home in Madison County, KY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
33 Days | 28 Days | -13.8% |
Summary: Homes in Madison County had an average of 28 days on market in May 2024, down by 13.8% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During May 2024, 98 homes were sold in Madison County; 67% 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.