$9,251 Closing Credit*
$779,000
1,120 SqFt
2 Beds
•1 Full Bath, 1 Partial
#487233, Listing Office: eXp Realty BKNY
Is Madison, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Madison was a Buyer's Market.
Key Takeaway
Madison is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Madison, NY
How much do homes in Madison, NY cost?
Median Sold Price
$895,000
$541/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,000(+4.1%)
Key Takeaway
Homes in Madison have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Madison was $895,000 in October 2024, up 4.1% from last year, and the median price per square foot was $541.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $242K | -6.9% |
| 2 Bedrooms | $365K | $520K | +42.5% |
| 3 Bedrooms | $870K | $970K | +11.5% |
| 4 Bedrooms | $1.0M | $917.5K | -14.1% |
| 5+ Bedrooms | $1.1M | $999K | -13.1% |
Summary: Madison housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes increased by 42.5%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes decreased by 13.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Sheepshead Bay | $345K | $380K | +10.1% |
| Madison | $860K | $895K | +4.1% |
| Marine Park | $785K | $790K | +0.6% |
| Southern Brooklyn | $601.6K | $590K | -1.9% |
Housing Supply in Madison, NY
How many homes are available in Madison, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 53 | -5.4% |
Summary: The Madison real estate market had 53 homes for sale in October 2024, a 5.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 16 | 16 | 0.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 12 | 11 | -8.3% |
Summary: The Madison housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 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 8 homes were sold or pending in Madison in October 2024, up by 100.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% 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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 82 Days | 98 Days | +19.9% |
Summary: Homes in Madison had an average of 98 days on market in Oct 2024, up by 19.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Madison has remained consistent over time.
Summary: During October 2024, 8 homes were sold in Madison; 25% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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