Is Madera, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Madera is a seller's market

Buyer's
Market

Difference Since February 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

$425,052

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$20,052(+5.0%)

Key Takeaway

Homes in Madera have sold for 5% more than they did a year ago.

Summary: The median home sold price in Madera was $425,052 in February 2024, up 5% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $220.5K$220K
-0.2%
2 $239K$233.2K
-2.4%
3 $385K$400K
+3.9%
4 $463.3K$465.3K
0.4%
5+ $450K$510K
+13.3%

Summary: Madera housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.2%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 13.3%.

Housing Supply in Madera, CA

How many homes are available in Madera, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
244256+4.9%

Summary: The Madera real estate market had 256 homes for sale in February 2024, a 4.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 128
-33.3%
3 120135
+12.5%
4 7077
+10.0%
5+ 4135
-14.6%

Summary: The Madera housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 14.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3564+82.9%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Madera, you could pay more than the asking price. 45.3% of homes here sold above asking price last month.

Summary: A total of 64 homes were sold or pending in Madera in February 2024, up by 82.9% month-over-month. Of the 64 sold homes, 38% were sold under asking, 17% were sold at asking, and 45% 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

Feb 2023Feb 2024CHANGE
37 Days32 Days-14.0%

Summary: Homes in Madera had an average of 32 days on market in Feb 2024, down by 14% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Madera are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 64 homes were sold in Madera; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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