Is Madison, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Madison has remained a Seller's Market.
Key Takeaway
Madison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison, CT
How much do homes in Madison, CT cost?
Median Sold Price
$635,000
$282/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Madison have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Madison was $635,000 in March 2024, up 1.3% from last year, and the median price per square foot was $282.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.2K | $311.8K | +63.1% |
| 2 Bedrooms | $400K | $500K | +25.0% |
| 3 Bedrooms | $535K | $590K | +10.3% |
| 4 Bedrooms | $750K | $785K | +4.7% |
| 5+ Bedrooms | $1.1M | $1.1M | -3.2% |
Summary: Madison housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 63.1%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Killingworth | $452.5K | $517.5K | +14.4% |
| Clinton | $371.5K | $409K | +10.1% |
| Durham | $394.5K | $429K | +8.7% |
| Guilford | $525.5K | $567.5K | +8.0% |
| Madison | $627K | $635K | +1.3% |
Housing Supply in Madison, CT
How many homes are available in Madison, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 57 | 65 | +14.0% |
Summary: The Madison real estate market had 65 homes for sale in March 2024, a 14.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 10 | 15 | +50.0% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 18 | 20 | +11.1% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Madison housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 28 | +250.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Madison in March 2024, up by 250.0% month-over-month. Of the 28 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Madison, CT
We’re sorry, we don't have information for this market at the moment
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