$4,750 Closing Credit*
$400,000
Wendy Witt, Listing Office: Keller Williams
Is Madison Heights, 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 Heights has remained a Seller's Market.
Key Takeaway
Madison Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison Heights, VA
How much do homes in Madison Heights, VA cost?
Median Sold Price
$261,500
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$33,250(+14.6%)
Key Takeaway
Homes in Madison Heights have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in Madison Heights was $261,500 in October 2024, up 14.6% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $137K | N/A |
| 2 Bedrooms | $151.7K | $169.9K | +12.0% |
| 3 Bedrooms | $225.9K | $261.5K | +15.7% |
| 4 Bedrooms | $290K | $284K | -2.1% |
| 5+ Bedrooms | $277K | $384K | +38.6% |
Summary: Madison Heights housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 15.7%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 38.6%.
Housing Supply in Madison Heights, VA
How many homes are available in Madison Heights, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 61 | 73 | +19.7% |
Summary: The Madison Heights real estate market had 73 homes for sale in October 2024, a 19.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 37 | 46 | +24.3% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Madison Heights housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 24.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison Heights, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Madison Heights in October 2024, up by 44.4% month-over-month. Of the 13 sold homes, 62% were sold under asking, 23% were sold at asking, and 15% were sold over asking.
Days on Market for Madison Heights, VA
How long does it take to sell a home in Madison Heights, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 31 Days | +173.3% |
Summary: Homes in Madison Heights had an average of 31 days on market in Oct 2024, up by 173.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madison Heights are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in Madison Heights; 62% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% 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. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement. 
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.