Is Madison County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Madison County has remained a Seller's Market.
Housing Prices in Madison County, VA
How much do homes in Madison County, VA cost?
Median Sold Price
$440,000
$230/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Madison County was $440,000 in May 2024, up 2.6% from last month, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $255K | - | N/A |
3 Bedrooms | $425K | $430K | +1.2% |
4 Bedrooms | $730K | $675K | -7.5% |
5+ Bedrooms | - | - | N/A |
Summary: Madison County housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes did not change.
Housing Supply in Madison County, VA
How many homes are available in Madison County, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
72 | 78 | +8.3% |
Summary: The Madison County real estate market had 78 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 46 | 42 | -8.7% |
4 Bedrooms | 18 | 22 | +22.2% |
5+ Bedrooms | 5 | 10 | +100.0% |
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 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 15 | -34.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Madison County in May 2024, down by 34.8% month-over-month. Of the 15 sold homes, 40% were sold under asking, 33% were sold at asking, and 27% were sold over asking.
Days on Market for Madison County, VA
How long does it take to sell a home in Madison County, VA?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 Days | 20 Days | 0.3% |
Summary: Homes in Madison County had an average of 20 days on market in May 2024, up by 0.3% compared to last month.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Madison County; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.