Is Madisonville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Madisonville was a Seller's Market.
Housing Prices in Madisonville, TN
How much do homes in Madisonville, TN cost?
Median Sold Price
$325,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Madisonville was $325,000 in May 2024, up 24.5% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $260K | $160K | -38.5% |
2 Bedrooms | $162.4K | $215K | +32.3% |
3 Bedrooms | $280K | $330K | +17.9% |
4 Bedrooms | $295K | $355.5K | +20.5% |
5+ Bedrooms | $625K | $364.9K | -41.6% |
Summary: Madisonville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.5%, 2 bedroom homes increased by 32.3%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes decreased by 41.6%.
Housing Supply in Madisonville, TN
How many homes are available in Madisonville, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
92 | 95 | +3.3% |
Summary: The Madisonville real estate market had 95 homes for sale in May 2024, a 3.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 16 | 14 | -12.5% |
3 Bedrooms | 58 | 62 | +6.9% |
4 Bedrooms | 14 | 18 | +28.6% |
5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Madisonville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 13 | -43.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Madisonville in May 2024, down by 43.5% month-over-month. Of the 13 sold homes, 54% were sold under asking, 46% were sold at asking, and 0% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
44 Days | 68 Days | +54.1% |
Summary: Homes in Madisonville had an average of 68 days on market in May 2024, up by 54.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Madisonville; 23% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.