Is Madison, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Madison is a seller's market

Buyer's
Market

Difference Since September 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, IN

How much do homes in Madison, IN cost?

Median Sold Price

$222,000

$148/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$13,900(+6.7%)

Key Takeaway

Homes in Madison have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Madison was $222,000 in September 2024, up 6.7% from last year, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $137K$23.5K
-82.8%
2 $148K$204K
+37.8%
3 $229.5K$219.9K
-4.2%
4 $272.5K$233.5K
-14.3%
5+ $218K$600K
+175.2%

Summary: Madison housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 82.8%, 2 bedroom homes increased by 37.8%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 175.2%.

Median Sold Price Compared To Nearby Cities

Madison
+6.7%
Madison Township
+3.9%

Housing Supply in Madison, IN

How many homes are available in Madison, IN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1915-21.1%

Summary: The Madison real estate market had 15 homes for sale in September 2024, a 21.1% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 11
0.0%
3 139
-30.8%
4 44
0.0%
5+ 00
0.0%

Summary: The Madison housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 30.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Madison, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Madison in September 2024, down by 25.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Madison, IN

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

Average Sale Time

Sep 2023Sep 2024CHANGE
6 Days66 Days+1000.0%

Summary: Homes in Madison had an average of 66 days on market in Sep 2024, up by 1000% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Madison has remained consistent over time.

Summary: During September 2024, 3 homes were sold in Madison; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 6 Days Ago

Newest Listings in Madison, IN

Nearby Markets to Madison, IN