$3,147 Closing Credit*
$265,000
1,087 SqFt
3 Beds
•1 Full Bath, 1 Partial
Christa Deanne Rorrer, Listing Office: EXIT Realty Expertise
Is James Madison, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, James Madison was a Seller's Market.
Key Takeaway
James 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 James Madison, VA
How much do homes in James Madison, VA cost?
Median Sold Price
$455,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$10,000(+2.2%)
Key Takeaway
Homes in James Madison have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in James Madison was $455,000 in December 2024, up 2.2% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $258K | N/A |
| 2 Bedrooms | $300K | $295.4K | -1.5% |
| 3 Bedrooms | $430K | $439.9K | +2.3% |
| 4 Bedrooms | $460K | $485K | +5.4% |
| 5+ Bedrooms | $500K | $522.5K | +4.5% |
Summary: James Madison housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| James Monroe | $405K | $450K | +11.1% |
| King George | $439K | $459.9K | +4.8% |
| James Madison | $445K | $455K | +2.2% |
| George Washington | $435K | $430K | -1.1% |
Housing Supply in James Madison, VA
How many homes are available in James Madison, VA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 32 | 30 | -6.3% |
Summary: The James Madison real estate market had 30 homes for sale in December 2024, a 6.3% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 15 | 11 | -26.7% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The James Madison housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 26.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in James Madison, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in James Madison in December 2024, down by 44.4% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for James Madison, VA
How long does it take to sell a home in James Madison, VA?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 44 Days | 5 Days | -87.0% |
Summary: Homes in James Madison had an average of 5 days on market in Dec 2024, down by 87% compared to last year.
Breakdown of Home Sale Times
5 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 James Madison are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 5 homes were sold in James 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.
