Is Madison, GA 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, Madison has remained a Seller's Market.
Housing Prices in Madison, GA
How much do homes in Madison, GA cost?
Median Sold Price
$453,110
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Madison was $453,110 in May 2024, down 2.5% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $359K | N/A |
2 Bedrooms | $290K | $280K | -3.4% |
3 Bedrooms | $399.9K | $378.2K | -5.4% |
4 Bedrooms | $485K | $480K | -1.0% |
5+ Bedrooms | $498.3K | $640K | +28.4% |
Summary: Madison housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 28.4%.
Housing Supply in Madison, GA
How many homes are available in Madison, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
72 | 69 | -4.2% |
Summary: The Madison real estate market had 69 homes for sale in May 2024, a 4.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 6 | +100.0% |
3 Bedrooms | 42 | 38 | -9.5% |
4 Bedrooms | 15 | 11 | -26.7% |
5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Madison housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 14 | -22.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Madison in May 2024, down by 22.2% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for Madison, GA
How long does it take to sell a home in Madison, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 72 Days | +44.3% |
Summary: Homes in Madison had an average of 72 days on market in May 2024, up by 44.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Madison; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.