$10,000 Closing Credit*
$888,000
4 Beds
•3 Full Baths, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is Madison, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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, NJ
How much do homes in Madison, NJ cost?
Median Sold Price
$946,000
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$46,000(+5.1%)
Key Takeaway
Homes in Madison have sold for 5.1% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | - | N/A |
| 2 Bedrooms | $470K | $492.5K | +4.8% |
| 3 Bedrooms | $746.2K | $775K | +3.9% |
| 4 Bedrooms | $1.0M | $1.1M | +3.4% |
| 5+ Bedrooms | $1.7M | $1.9M | +11.5% |
Summary: Madison housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Cities
| Chatham | $999.9K | $1.1M | +11.1% |
| Chatham Township | $1.0M | $1.1M | +10.7% |
| Florham Park | $900K | $955K | +6.1% |
| Madison | $900K | $946K | +5.1% |
Housing Supply in Madison, NJ
How many homes are available in Madison, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 | 43 | 0.0% |
Summary: The Madison real estate market had 43 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Madison housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Madison in November 2024, up by 62.5% month-over-month. Of the 13 sold homes, 15% were sold under asking, 0% were sold at asking, and 85% were sold over asking.
Days on Market for Madison, NJ
We’re sorry, we don't have information for this market at the moment
