$45,000
4.94 Acres
Land
Catherine McDevitt, Listing Office: Hamilton Village R.E., LLC
Is Madison, NY 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, NY
How much do homes in Madison, NY cost?
Median Sold Price
$125,500
$138/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$24,400(-16.3%)
Key Takeaway
Homes in Madison have sold for 16.3% less than they did a month ago.
Summary: The median home sold price in Madison was $125,500 in November 2024, down 16.3% from last month, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $125.5K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $149.9K | - | 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.
Housing Supply in Madison, NY
How many homes are available in Madison, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Summary: The Madison real estate market had 5 homes for sale in November 2024, a 28.6% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
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 decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was 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, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Madison, NY
How long does it take to sell a home in Madison, NY?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 Days | 9 Days | +35.7% |
Summary: Homes in Madison had an average of 9 days on market in Nov 2024, up by 35.7% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madison are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Madison; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
