Is Madison County, NC 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 County was a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $260.7K | $254.9K | -2.2% |
2 Bedrooms | $317.7K | $358K | +12.7% |
3 Bedrooms | $430K | $425K | -1.2% |
4 Bedrooms | $600K | $625K | +4.2% |
5+ Bedrooms | $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 | $239.4K | $269K | +12.3% |
Haywood County | $340K | $375.1K | +10.3% |
Cocke County | $230K | $250K | +8.7% |
Madison County | $400K | $425K | +6.3% |
Buncombe County | $450.1K | $475.2K | +5.6% |
Housing Supply in Madison County, NC
How many homes are available in Madison County, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
116 | 133 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 5 | -28.6% |
2 Bedrooms | 20 | 23 | +15.0% |
3 Bedrooms | 66 | 80 | +21.2% |
4 Bedrooms | 14 | 18 | +28.6% |
5+ Bedrooms | 9 | 7 | -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 2024 | May 2024 | CHANGE |
---|---|---|
17 | 22 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 70 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
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.