Is James Madison, VA 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, James Madison has remained a Neutral Market.
Housing Prices in James Madison, VA
How much do homes in James Madison, VA cost?
Median Sold Price
$447,621
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in James Madison was $447,621 in April 2024, up 2% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $230.8K | - | N/A |
2 Bedrooms | $300K | $284.9K | -5.0% |
3 Bedrooms | $415K | $432.5K | +4.2% |
4 Bedrooms | $447.4K | $465.5K | +4.0% |
5+ Bedrooms | $548.3K | $495K | -9.7% |
Summary: James Madison housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 9.7%.
Median Sold Price Compared To Nearby Cities
James Monroe | $400K | $425K | +6.3% |
King George | $418.9K | $439.9K | +5.0% |
George Washington | $417K | $430K | +3.1% |
James Madison | $439K | $447.6K | +2.0% |
Housing Supply in James Madison, VA
How many homes are available in James Madison, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
53 | 47 | -11.3% |
Summary: The James Madison real estate market had 47 homes for sale in April 2024, a 11.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 27 | 23 | -14.8% |
4 Bedrooms | 14 | 14 | 0.0% |
5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The James Madison 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 remained the same, 3 bedroom homes decreased by 14.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
14 | 8 | -42.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in James Madison in April 2024, down by 42.9% month-over-month. Of the 8 sold homes, 25% were sold under asking, 38% were sold at asking, and 38% were sold over asking.
Days on Market for James Madison, VA
How long does it take to sell a home in James Madison, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
12 Days | 83 Days | +548.5% |
Summary: Homes in James Madison had an average of 83 days on market in Apr 2024, up by 548.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in James Madison; 63% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.