$8,609 Closing Credit*
$725,000
3,101 SqFt
4 Beds
•2 Full Baths, 1 Partial
Jane Cardarelli, Listing Office: William Raveis Real Estate
Is Madison, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Madison has remained a Seller's Market.
Key Takeaway
Madison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison, CT
How much do homes in Madison, CT cost?
Median Sold Price
$679,500
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$54,500(+8.7%)
Key Takeaway
Homes in Madison have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Madison was $679,500 in October 2024, up 8.7% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $238.5K | +28.9% |
| 2 Bedrooms | $461.5K | $517.5K | +12.1% |
| 3 Bedrooms | $543K | $610K | +12.3% |
| 4 Bedrooms | $785K | $825K | +5.1% |
| 5+ Bedrooms | $1.0M | $1.2M | +11.6% |
Summary: Madison housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.9%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
| Killingworth | $540K | $590K | +9.3% |
| Madison | $625K | $679.5K | +8.7% |
| Durham | $420K | $445K | +6.0% |
| Guilford | $555K | $583.4K | +5.1% |
| Clinton | $408.5K | $425K | +4.0% |
Housing Supply in Madison, CT
How many homes are available in Madison, CT?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 97 | 98 | +1.0% |
Summary: The Madison real estate market had 98 homes for sale in October 2024, a 1.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 22 | 19 | -13.6% |
| 3 Bedrooms | 30 | 28 | -6.7% |
| 4 Bedrooms | 30 | 34 | +13.3% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Madison housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 13.6%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison, you may be able to get a good deal. 55% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Madison in October 2024, down by 4.8% month-over-month. Of the 20 sold homes, 55% were sold under asking, 35% were sold at asking, and 10% were sold over asking.
Days on Market for Madison, CT
We’re sorry, we don't have information for this market at the moment
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