Is Madison County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Madison County is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Madison County was a Seller's Market.

Key Takeaway

Madison County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Madison County, NC

How much do homes in Madison County, NC cost?

Median Sold Price

$425,000

$259/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$25,000(+6.3%)

Key Takeaway

Homes in Madison County have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Madison County was $425,000 in May 2024, up 6.3% from last year, and the median price per square foot was $259.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $260.7K$254.9K
-2.2%
2 $317.7K$358K
+12.7%
3 $430K$425K
-1.2%
4 $600K$625K
+4.2%
5+ $840K$1.0M
+27.4%

Summary: Madison County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 12.7%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 27.4%.

Median Sold Price Compared To Nearby Counties

Greene County
+12.3%
Haywood County
+10.3%
Cocke County
+8.7%
Madison County
+6.3%
Buncombe County
+5.6%

Housing Supply in Madison County, NC

How many homes are available in Madison County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
116133+14.7%

Summary: The Madison County real estate market had 133 homes for sale in May 2024, a 14.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 75
-28.6%
2 2023
+15.0%
3 6680
+21.2%
4 1418
+28.6%
5+ 97
-22.2%

Summary: The Madison County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 21.2%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 22.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1722+29.4%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Madison County, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Madison County in May 2024, up by 29.4% month-over-month. Of the 22 sold homes, 64% were sold under asking, 9% were sold at asking, and 27% were sold over asking.

Days on Market for Madison County, NC

How long does it take to sell a home in Madison County, NC?

Average Sale Time

May 2023May 2024CHANGE
36 Days70 Days+93.4%

Summary: Homes in Madison County had an average of 70 days on market in May 2024, up by 93.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Madison County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 22 homes were sold in Madison County; 41% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Madison County, NC

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