$2,316 Closing Credit*
$195,000
1,330 SqFt
3 Beds
•2 Full Baths
Jessica Keeble, Listing Office: Keller Williams
Is Madison, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Madison was a Seller's 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, VA
How much do homes in Madison, VA cost?
Median Sold Price
$425,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$53,330(-11.1%)
Key Takeaway
Homes in Madison have sold for 11.1% less than they did a year ago.
Summary: The median home sold price in Madison was $425,000 in November 2024, down 11.1% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.2K | $220K | +47.4% |
| 2 Bedrooms | $204.5K | $255K | +24.7% |
| 3 Bedrooms | $492K | $375K | -23.8% |
| 4 Bedrooms | $425K | $675K | +58.8% |
| 5+ Bedrooms | $450K | $425K | -5.6% |
Summary: Madison housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.4%, 2 bedroom homes increased by 24.7%, 3 bedroom homes decreased by 23.8%, 4 bedroom homes increased by 58.8%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Pamplin | $179.9K | $185K | +2.8% |
| Madison | $478.3K | $425K | -11.1% |
Housing Supply in Madison, VA
How many homes are available in Madison, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 27 | -15.6% |
Summary: The Madison real estate market had 27 homes for sale in November 2024, a 15.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 15 | 12 | -20.0% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Madison housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
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, VA
How long does it take to sell a home in Madison, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 52 Days | 268 Days | +409.5% |
Summary: Homes in Madison had an average of 268 days on market in Nov 2024, up by 409.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was 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, 3 homes were sold in Madison; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved