$10,000 Closing Credit*
$1,425,000
2,184 SqFt
3 Full Baths, 1 Partial
#488121, Listing Office: Behfar Team, 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 Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Madison, NY
How much do homes in Madison, NY cost?
Median Sold Price
$1,525,000
$705/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$725,000(+90.6%)
Key Takeaway
Homes in Madison have sold for 90.6% more than they did a month ago.
Summary: The median home sold price in Madison was $1,525,000 in November 2024, up 90.6% from last month, and the median price per square foot was $705.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $710K | - | N/A |
| 3 Bedrooms | $800K | $1.5M | +90.6% |
| 4 Bedrooms | $910K | - | N/A |
| 5+ Bedrooms | - | - | 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 increased by 90.6%, 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 |
|---|---|---|
| 55 | 44 | -20.0% |
Summary: The Madison real estate market had 44 homes for sale in November 2024, a 20.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 14 | 8 | -42.9% |
| 3 Bedrooms | 19 | 16 | -15.8% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Madison housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 3 | -66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 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. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Madison in November 2024, down by 66.7% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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 |
|---|---|---|
| 98 Days | 94 Days | -4.4% |
Summary: Homes in Madison had an average of 94 days on market in Nov 2024, down by 4.4% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 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 November 2024, 3 homes were sold in Madison; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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