$3,488 Closing Credit*
$293,700
1,600 SqFt
3 Beds
•2 Full Baths
Listing Office: Keller Williams Realty Madison
Is Madison, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Madison was a Seller's Market.
Key Takeaway
Madison 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, AL
How much do homes in Madison, AL cost?
Median Sold Price
$378,683
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,853(+2.7%)
Key Takeaway
Homes in Madison have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Madison was $378,683 in October 2024, up 2.7% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157.9K | $149.5K | -5.3% |
| 2 Bedrooms | $225K | $207K | -8.0% |
| 3 Bedrooms | $310.3K | $304.9K | -1.7% |
| 4 Bedrooms | $424.5K | $440.5K | +3.8% |
| 5+ Bedrooms | $569.8K | $575K | +0.9% |
Summary: Madison housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.3%, 2 bedroom homes decreased by 8%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
| Madison | $373.1K | $385.4K | +3.3% |
| Madison | $368.8K | $378.6K | +2.7% |
| Huntsville | $335K | $331.9K | -0.9% |
Housing Supply in Madison, AL
How many homes are available in Madison, AL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 656 | 690 | +5.2% |
Summary: The Madison real estate market had 690 homes for sale in October 2024, a 5.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 25 | +4.2% |
| 3 Bedrooms | 251 | 254 | +1.2% |
| 4 Bedrooms | 275 | 296 | +7.6% |
| 5+ Bedrooms | 105 | 114 | +8.6% |
Summary: The Madison housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 8.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 105 | 111 | +5.7% |
Asking Price vs. Sold Price
66 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 111 homes were sold or pending in Madison in October 2024, up by 5.7% month-over-month. Of the 110 sold homes, 60% were sold under asking, 25% were sold at asking, and 15% were sold over asking.
Days on Market for Madison, AL
We’re sorry, we don't have information for this market at the moment
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