Is Madisonville, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Madisonville is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Madisonville was a Seller's Market.

Key Takeaway

Madisonville 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 Madisonville, TN

How much do homes in Madisonville, TN cost?

Median Sold Price

$293,950

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$1,550(-0.5%)

Key Takeaway

Homes in Madisonville have sold for 0.5% less than they did a year ago.

Summary: The median home sold price in Madisonville was $293,950 in November 2024, down 0.5% from last year, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $80.5K$368.7K
+358.1%
2 $200K$220K
+10.0%
3 $300K$310K
+3.3%
4 $334.9K$285K
-14.9%
5+ $330K$805.7K
+144.2%

Summary: Madisonville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 358.1%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes increased by 144.2%.

Housing Supply in Madisonville, TN

How many homes are available in Madisonville, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10097-3.0%

Summary: The Madisonville real estate market had 97 homes for sale in November 2024, a 3.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 12
+100.0%
2 1312
-7.7%
3 6464
0.0%
4 2219
-13.6%
5+ 00
0.0%

Summary: The Madisonville 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 decreased by 7.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1516+6.7%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Madisonville, you may be able to get a good deal. 81.3% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Madisonville in November 2024, up by 6.7% month-over-month. Of the 16 sold homes, 81% were sold under asking, 6% were sold at asking, and 13% were sold over asking.

Days on Market for Madisonville, TN

How long does it take to sell a home in Madisonville, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
34 Days96 Days+183.4%

Summary: Homes in Madisonville had an average of 96 days on market in Nov 2024, up by 183.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Madisonville has remained consistent over time.

Summary: During November 2024, 16 homes were sold in Madisonville; 19% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Madisonville, TN

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