Is Madison County, IA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Madison County is a seller's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Madison County was a Buyer's Market.

Key Takeaway

Madison County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Madison County, IA

How much do homes in Madison County, IA cost?

Median Sold Price

$267,000

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$42,000(+18.7%)

Key Takeaway

Homes in Madison County have sold for 18.7% more than they did a year ago.

Summary: The median home sold price in Madison County was $267,000 in March 2024, up 18.7% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $259.9K$81.5K
-68.6%
2 $180.5K$195K
+8.0%
3 $212.7K$268K
+26.0%
4 $277.5K$345K
+24.3%
5+ $385K$295K
-23.4%

Summary: Madison County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.6%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 26%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes decreased by 23.4%.

Median Sold Price Compared To Nearby Counties

Madison County
+18.7%
Warren County
+6.9%
Dallas County
+3.9%

Housing Supply in Madison County, IA

How many homes are available in Madison County, IA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6364+1.6%

Summary: The Madison County real estate market had 64 homes for sale in March 2024, a 1.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 2124
+14.3%
4 2218
-18.2%
5+ 910
+11.1%

Summary: The Madison County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
613+116.7%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Madison County, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Madison County in March 2024, up by 116.7% month-over-month. Of the 13 sold homes, 62% were sold under asking, 31% were sold at asking, and 8% were sold over asking.

Days on Market for Madison County, IA

How long does it take to sell a home in Madison County, IA?

Average Sale Time

Mar 2023Mar 2024CHANGE
125 Days84 Days-32.4%

Summary: Homes in Madison County had an average of 84 days on market in Mar 2024, down by 32.4% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 13 homes were sold in Madison County; 38% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 38% 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 24 Days Ago

Newest Listings in Madison County, IA

Nearby Markets to Madison County, IA

What housing markets are near Madison County, IA?