$70,000
1.09 Acres
Land
Listing Office: KY Real Estate Professionals, LLC
Is Madison County, KY 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 County has remained a Seller's Market.
Key Takeaway
Madison County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison County, KY
How much do homes in Madison County, KY cost?
Median Sold Price
$286,805
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,434(+8.1%)
Key Takeaway
Homes in Madison County have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Madison County was $286,805 in October 2024, up 8.1% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.4K | $159.5K | +8.2% |
| 2 Bedrooms | $145K | $171.2K | +18.1% |
| 3 Bedrooms | $252.3K | $270K | +7.0% |
| 4 Bedrooms | $334.6K | $355K | +6.1% |
| 5+ Bedrooms | $411.2K | $399.9K | -2.7% |
Summary: Madison County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 18.1%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 2.7%.
Median Sold Price Compared To Nearby Counties
| Jessamine County | $315K | $349.4K | +10.9% |
| Madison County | $265.3K | $286.8K | +8.1% |
| Clark County | $230.9K | $240.4K | +4.1% |
| Estill County | $155K | $160K | +3.2% |
| Garrard County | $269.9K | $265K | -1.8% |
Housing Supply in Madison County, KY
How many homes are available in Madison County, KY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 403 | 442 | +9.7% |
Summary: The Madison County real estate market had 442 homes for sale in October 2024, a 9.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 26 | 34 | +30.8% |
| 3 Bedrooms | 219 | 242 | +10.5% |
| 4 Bedrooms | 103 | 110 | +6.8% |
| 5+ Bedrooms | 52 | 53 | +1.9% |
Summary: The Madison County 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 30.8%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 1.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 93 | 83 | -10.8% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison County, you may be able to get a good deal. 56.6% of homes here sold below asking price last month.
Summary: A total of 83 homes were sold or pending in Madison County in October 2024, down by 10.8% month-over-month. Of the 83 sold homes, 57% were sold under asking, 30% were sold at asking, and 13% were sold over asking.
Days on Market for Madison County, KY
How long does it take to sell a home in Madison County, KY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 35 Days | +44.4% |
Summary: Homes in Madison County had an average of 35 days on market in Oct 2024, up by 44.4% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madison County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 83 homes were sold in Madison County; 53% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search Multiple Listing Service. Real estate listings held by other Brokerage firms are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. The Broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2024 Greater Louisville Association of Realtors. All Rights Reserved.