$10,000 Closing Credit*
$995,000
3,242 SqFt
3 Beds
•4 Full Baths
Candice R Southard, Listing Office: RE/MAX Gateway
Is Madison County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Madison County has remained a Seller's Market.
Key Takeaway
Madison County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison County, VA
How much do homes in Madison County, VA cost?
Median Sold Price
$440,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$68,000(+18.3%)
Key Takeaway
Homes in Madison County have sold for 18.3% more than they did a year ago.
Summary: The median home sold price in Madison County was $440,000 in October 2024, up 18.3% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $320.7K | +137.6% |
| 2 Bedrooms | $240K | $366.5K | +52.7% |
| 3 Bedrooms | $360.5K | $427.7K | +18.7% |
| 4 Bedrooms | $425K | $650K | +52.9% |
| 5+ Bedrooms | $450K | $524.9K | +16.7% |
Summary: Madison County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 137.6%, 2 bedroom homes increased by 52.7%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 52.9%, and 5+ bedroom homes increased by 16.7%.
Median Sold Price Compared To Nearby Counties
| Madison County | $372K | $440K | +18.3% |
| Greene County | $373K | $420.5K | +12.8% |
| Culpeper County | $444.4K | $476.7K | +7.3% |
| Orange County | $395K | $413.8K | +4.8% |
| Page County | $280K | $280K | 0.0% |
Housing Supply in Madison County, VA
How many homes are available in Madison County, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 55 | 62 | +12.7% |
Summary: The Madison County real estate market had 62 homes for sale in October 2024, a 12.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 29 | 35 | +20.7% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Madison County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 20.7%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 17 | +142.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison County, expect to pay close to the asking price. 52.9% of homes here sold near the asking price last month.
Summary: A total of 17 homes were sold or pending in Madison County in October 2024, up by 142.9% month-over-month. Of the 17 sold homes, 29% were sold under asking, 53% were sold at asking, and 18% were sold over asking.
Days on Market for Madison County, VA
How long does it take to sell a home in Madison County, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 60 Days | +32.2% |
Summary: Homes in Madison County had an average of 60 days on market in Oct 2024, up by 32.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madison County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in Madison County; 59% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 24% 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