Is Madison County, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Madison County has remained a Seller's Market.
Housing Prices in Madison County, KY
How much do homes in Madison County, KY cost?
Median Sold Price
$279,921
$109/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Madison County was $279,921 in April 2024, up 7.7% from last year, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $129.9K | $95K | -26.9% |
2 Bedrooms | $145K | $147.5K | +1.7% |
3 Bedrooms | $242.7K | $258K | +6.3% |
4 Bedrooms | $319.9K | $339.9K | +6.3% |
5+ Bedrooms | $392.5K | $400.4K | +2.0% |
Summary: Madison County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.9%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Counties
Estill County | $150K | $178.3K | +18.9% |
Jessamine County | $289.6K | $323.2K | +11.6% |
Madison County | $259.9K | $279.9K | +7.7% |
Clark County | $220K | $234.3K | +6.5% |
Garrard County | $250K | $260K | +4.0% |
Housing Supply in Madison County, KY
How many homes are available in Madison County, KY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
321 | 345 | +7.5% |
Summary: The Madison County real estate market had 345 homes for sale in April 2024, a 7.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 11 | 20 | +81.8% |
3 Bedrooms | 171 | 181 | +5.8% |
4 Bedrooms | 101 | 101 | 0.0% |
5+ Bedrooms | 36 | 41 | +13.9% |
Summary: The Madison County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 81.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 13.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
78 | 93 | +19.2% |
Asking Price vs. Sold Price
49 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 93 homes were sold or pending in Madison County in April 2024, up by 19.2% month-over-month. Of the 93 sold homes, 53% were sold under asking, 27% were sold at asking, and 20% were sold over asking.
Days on Market for Madison County, KY
How long does it take to sell a home in Madison County, KY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
32 Days | 42 Days | +29.4% |
Summary: Homes in Madison County had an average of 42 days on market in Apr 2024, up by 29.4% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During April 2024, 93 homes were sold in Madison County; 62% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.