Is Madison County, MT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Madison County is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Madison County has remained a Buyer's Market.

Key Takeaway

Madison County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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

-$101,550(-16.2%)

Key Takeaway

Homes in Madison County have sold for 16.2% less than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $367.5K$200K
-45.6%
2 $607K$460K
-24.2%
3 $610.7K$550K
-9.9%
4 $844K$740K
-12.3%
5+ $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
+9.3%
Silver Bow County
+5.7%
Gallatin County
+3.2%
Jefferson County
-8.3%
Madison County
-16.2%

Housing Supply in Madison County, MT

How many homes are available in Madison County, MT?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5763+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

# BEDSJan 2024Feb 2024CHANGE
1 44
0.0%
2 54
-20.0%
3 2832
+14.3%
4 1113
+18.2%
5+ 910
+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 2024Feb 2024CHANGE
24+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Madison County, you may be able to get a good deal. 50% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
40 Days108 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Madison County, MT

Nearby Markets to Madison County, MT

What housing markets are near Madison County, MT?