$4,026 Closing Credit*
$339,000
2,231 SqFt
4 Beds
•2 Full Baths, 1 Partial
Tamatha McCollum, Listing Office: Allen Tate Oak Ridge Commons
Is Madison, NC 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, NC
How much do homes in Madison, NC cost?
Median Sold Price
$251,750
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$26,800(+11.9%)
Key Takeaway
Homes in Madison have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Madison was $251,750 in October 2024, up 11.9% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212.5K | $135K | -36.5% |
| 2 Bedrooms | $125K | $179.9K | +43.9% |
| 3 Bedrooms | $231.5K | $256.2K | +10.7% |
| 4 Bedrooms | $330K | $349K | +5.8% |
| 5+ Bedrooms | - | $364K | N/A |
Summary: Madison housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.5%, 2 bedroom homes increased by 43.9%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Mayo Township | $235.2K | $289K | +22.9% |
| Madison | $224.9K | $251.7K | +11.9% |
| Madison Township | $212.5K | $224.9K | +5.8% |
| Mayodan | $180.9K | $188.2K | +4.0% |
| Huntsville Township | $304.5K | $308.4K | +1.3% |
Housing Supply in Madison, NC
How many homes are available in Madison, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 27 | +35.0% |
Summary: The Madison real estate market had 27 homes for sale in October 2024, a 35.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
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 100%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were 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. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Madison in October 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Madison, NC
How long does it take to sell a home in Madison, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 33 Days | +250.9% |
Summary: Homes in Madison had an average of 33 days on market in Oct 2024, up by 250.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Madison are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Madison; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
