Is Madisonville, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Madisonville was a Seller's Market.
Key Takeaway
Madisonville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Madisonville, LA
How much do homes in Madisonville, LA cost?
Median Sold Price
$375,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Madisonville have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Madisonville was $375,500 in March 2024, up 1.8% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128.5K | $205K | +59.5% |
| 2 Bedrooms | $227.5K | $200K | -12.1% |
| 3 Bedrooms | $305K | $299.5K | -1.8% |
| 4 Bedrooms | $432K | $445K | +3.0% |
| 5+ Bedrooms | $617.5K | $705K | +14.2% |
Summary: Madisonville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 59.5%, 2 bedroom homes decreased by 12.1%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 14.2%.
Housing Supply in Madisonville, LA
How many homes are available in Madisonville, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 97 | 115 | +18.6% |
Summary: The Madisonville real estate market had 115 homes for sale in March 2024, a 18.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 26 | 37 | +42.3% |
| 4 Bedrooms | 58 | 62 | +6.9% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Madisonville 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 100%, 3 bedroom homes increased by 42.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Madisonville, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Madisonville in March 2024, up by 35.7% month-over-month. Of the 19 sold homes, 74% were sold under asking, 21% were sold at asking, and 5% were sold over asking.
Days on Market for Madisonville, LA
How long does it take to sell a home in Madisonville, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 58 Days | +38.3% |
Summary: Homes in Madisonville had an average of 58 days on market in Mar 2024, up by 38.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madisonville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 19 homes were sold in Madisonville; 58% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.
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