Is Madrid, IA 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, Madrid has remained a Seller's Market.
Key Takeaway
Madrid is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madrid, IA
How much do homes in Madrid, IA cost?
Median Sold Price
$297,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Madrid have sold for 36.2% more than they did a year ago.
Summary: The median home sold price in Madrid was $297,000 in March 2024, up 36.2% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172.5K | $240.9K | +39.7% |
| 3 Bedrooms | $216K | $289K | +33.8% |
| 4 Bedrooms | $295.5K | $333K | +12.7% |
| 5+ Bedrooms | $252.5K | $429.9K | +70.3% |
Summary: Madrid housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 39.7%, 3 bedroom homes increased by 33.8%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 70.3%.
Housing Supply in Madrid, IA
How many homes are available in Madrid, IA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Summary: The Madrid real estate market had 17 homes for sale in March 2024, a 21.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 5 | 9 | +80.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Madrid 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 decreased by 50%, 3 bedroom homes increased by 80%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madrid, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Madrid in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Madrid, IA
How long does it take to sell a home in Madrid, IA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 71 Days | 93 Days | +30.3% |
Summary: Homes in Madrid had an average of 93 days on market in Mar 2024, up by 30.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madrid are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Madrid; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
