Is Madison, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Madison was a Seller's Market.
Housing Prices in Madison, IL
How much do homes in Madison, IL cost?
Median Sold Price
$50,000
$39/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Madison was $50,000 in April 2024, up 47.1% from last year, and the median price per square foot was $39.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $21.7K | $22.5K | +3.4% |
2 Bedrooms | $34K | $50K | +47.1% |
3 Bedrooms | $34.7K | $60K | +72.9% |
4 Bedrooms | $35K | $81.4K | +132.7% |
5+ Bedrooms | $141.5K | - | N/A |
Summary: Madison housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 47.1%, 3 bedroom homes increased by 72.9%, 4 bedroom homes increased by 132.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Madison | $34K | $50K | +47.1% |
Venice Township | $34.5K | $40K | +15.9% |
Granite City Township | $108.7K | $120K | +10.4% |
Granite City | $109.8K | $120K | +9.3% |
Housing Supply in Madison, IL
How many homes are available in Madison, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 10 | +66.7% |
Summary: The Madison real estate market had 10 homes for sale in April 2024, a 66.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 4 | 6 | +50.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 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 increased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Madison in April 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Madison, IL
How long does it take to sell a home in Madison, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
27 Days | 1 Day | -96.4% |
Summary: Homes in Madison had an average of 1 days on market in Apr 2024, down by 96.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1 homes were sold in Madison; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.