Is Madison County, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Madison County has remained a Buyer's Market.
Housing Prices in Madison County, MT
How much do homes in Madison County, MT cost?
Median Sold Price
$523,450
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Madison County was $523,450 in February 2024, down 16.2% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $367.5K | $200K | -45.6% |
2 Bedrooms | $607K | $460K | -24.2% |
3 Bedrooms | $610.7K | $550K | -9.9% |
4 Bedrooms | $844K | $740K | -12.3% |
5+ Bedrooms | $1.5M | $771K | -51.0% |
Summary: Madison County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.6%, 2 bedroom homes decreased by 24.2%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes decreased by 51%.
Median Sold Price Compared To Nearby Counties
Beaverhead County | $339.7K | $371.2K | +9.3% |
Silver Bow County | $255.6K | $270.2K | +5.7% |
Gallatin County | $687.1K | $709.1K | +3.2% |
Jefferson County | $534.5K | $489.9K | -8.3% |
Madison County | $625K | $523.4K | -16.2% |
Housing Supply in Madison County, MT
How many homes are available in Madison County, MT?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
57 | 63 | +10.5% |
Summary: The Madison County real estate market had 63 homes for sale in February 2024, a 10.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 28 | 32 | +14.3% |
4 Bedrooms | 11 | 13 | +18.2% |
5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Madison County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Madison County in February 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Madison County, MT
How long does it take to sell a home in Madison County, MT?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
40 Days | 108 Days | +170.0% |
Summary: Homes in Madison County had an average of 108 days on market in Feb 2024, up by 170% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 4 homes were sold in Madison County; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.