$711 Closing Credit*
$59,900
648 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: Peterson Team Realty
Is Madison, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Madison was a Neutral Market.
Key Takeaway
Madison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison, MN
How much do homes in Madison, MN cost?
Median Sold Price
$189,950
$90/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$19,950(-9.5%)
Key Takeaway
Homes in Madison have sold for 9.5% less than they did a month ago.
Summary: The median home sold price in Madison was $189,950 in November 2024, down 9.5% from last month, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $209.9K | - | N/A |
| 4 Bedrooms | - | $235K | N/A |
| 5+ Bedrooms | - | $144.9K | N/A |
Summary: Madison housing prices by bedroom type for November 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 did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Madison | $209.9K | $189.9K | -9.5% |
| Madison Township | $209.9K | $189.9K | -9.5% |
Housing Supply in Madison, MN
How many homes are available in Madison, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Summary: The Madison real estate market had 9 homes for sale in November 2024, a 28.6% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Madison housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Madison in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Madison, MN
How long does it take to sell a home in Madison, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 Days | 220 Days | +3575.0% |
Summary: Homes in Madison had an average of 220 days on market in Nov 2024, up by 3575% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Madison are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 2 homes were sold in Madison; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
