Is Madison, NC 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 Last Month

Since last month, 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, NC

How much do homes in Madison, NC cost?

Median Sold Price

$322,450

$170/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

+$108,950(+51.0%)

Key Takeaway

Homes in Madison have sold for 51% more than they did a month ago.

Summary: The median home sold price in Madison was $322,450 in February 2024, up 51% from last month, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 $171.9K$268K
+55.9%
3 $279.2K$345K
+23.6%
4 $255K-
N/A
5+ --
N/A

Summary: Madison housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 55.9%, 3 bedroom homes increased by 23.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Madison
+51.0%
Mayodan
-18.9%

Housing Supply in Madison, NC

How many homes are available in Madison, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2019-5.0%

Summary: The Madison real estate market had 19 homes for sale in February 2024, a 5.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1615
-6.3%
4 22
0.0%
5+ 00
0.0%

Summary: The Madison 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 remained the same, 3 bedroom homes decreased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 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. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Madison in February 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Madison, NC

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

Average Sale Time

Jan 2024Feb 2024CHANGE
31 Days75 Days+137.0%

Summary: Homes in Madison had an average of 75 days on market in Feb 2024, up by 137% compared to last month.

Breakdown of Home Sale Times

2 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

Many homes in Madison are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 6 homes were sold in Madison; 33% 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 27 Days Ago

Newest Listings in Madison, NC

Nearby Markets to Madison, NC

What housing markets are near Madison, NC?