Is Madera, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Madera has remained a Seller's Market.
Key Takeaway
Madera is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madera, CA
How much do homes in Madera, CA cost?
Median Sold Price
$429,997
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Madera have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Madera was $429,997 in May 2024, up 4.9% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220.5K | $175.5K | -20.4% |
| 2 Bedrooms | $247K | $242.5K | -1.8% |
| 3 Bedrooms | $390K | $400K | +2.6% |
| 4 Bedrooms | $453.4K | $471.3K | +3.9% |
| 5+ Bedrooms | $460.7K | $489K | +6.1% |
Summary: Madera housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.4%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 6.1%.
Housing Supply in Madera, CA
How many homes are available in Madera, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 242 | 253 | +4.5% |
Summary: The Madera real estate market had 253 homes for sale in May 2024, a 4.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 15 | 22 | +46.7% |
| 3 Bedrooms | 101 | 112 | +10.9% |
| 4 Bedrooms | 92 | 86 | -6.5% |
| 5+ Bedrooms | 34 | 32 | -5.9% |
Summary: The Madera housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 46.7%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 64 | 62 | -3.1% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madera, you may be able to get a good deal. 41.9% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Madera in May 2024, down by 3.1% month-over-month. Of the 62 sold homes, 42% were sold under asking, 27% were sold at asking, and 31% were sold over asking.
Days on Market for Madera, CA
How long does it take to sell a home in Madera, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 33 Days | -33.1% |
Summary: Homes in Madera had an average of 33 days on market in May 2024, down by 33.1% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madera are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 62 homes were sold in Madera; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.