Is Madison County, NY 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 Neutral Market.
Housing Prices in Madison County, NY
How much do homes in Madison County, NY cost?
Median Sold Price
$211,125
$136/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 $211,125 in May 2024, down 5.9% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75K | $185K | +146.7% |
2 Bedrooms | $138.5K | $163K | +17.7% |
3 Bedrooms | $215.3K | $211K | -2.0% |
4 Bedrooms | $262.3K | $262.5K | 0.1% |
5+ Bedrooms | $290K | $265K | -8.6% |
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 146.7%, 2 bedroom homes increased by 17.7%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Counties
Oswego County | $160K | $174.5K | +9.1% |
Onondaga County | $209.2K | $224.4K | +7.3% |
Oneida County | $181.6K | $191.3K | +5.4% |
Madison County | $224.3K | $211.1K | -5.9% |
Housing Supply in Madison County, NY
How many homes are available in Madison County, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
216 | 213 | -1.4% |
Summary: The Madison County real estate market had 213 homes for sale in May 2024, a 1.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 5 | -16.7% |
2 Bedrooms | 30 | 31 | +3.3% |
3 Bedrooms | 90 | 84 | -6.7% |
4 Bedrooms | 66 | 64 | -3.0% |
5+ Bedrooms | 24 | 29 | +20.8% |
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 16.7%, 2 bedroom homes increased by 3.3%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 20.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 30 | -25.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Madison County in May 2024, down by 25.0% month-over-month. Of the 30 sold homes, 47% were sold under asking, 13% were sold at asking, and 40% were sold over asking.
Days on Market for Madison County, NY
How long does it take to sell a home in Madison County, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
39 Days | 31 Days | -18.7% |
Summary: Homes in Madison County had an average of 31 days on market in May 2024, down by 18.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 30 homes were sold in Madison County; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.