Is Madisonville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Madisonville has remained a Seller's Market.
Key Takeaway
Madisonville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madisonville, TN
How much do homes in Madisonville, TN cost?
Median Sold Price
$325,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Madisonville have sold for 25% more than they did a year ago.
Summary: The median home sold price in Madisonville was $325,000 in March 2024, up 25% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $120.2K | -53.8% |
| 2 Bedrooms | $169.9K | $209.5K | +23.3% |
| 3 Bedrooms | $275K | $334.9K | +21.8% |
| 4 Bedrooms | $310K | $334.9K | +8.0% |
| 5+ Bedrooms | $430K | $364.9K | -15.1% |
Summary: Madisonville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53.8%, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 21.8%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 15.1%.
Housing Supply in Madisonville, TN
How many homes are available in Madisonville, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 91 | 87 | -4.4% |
Summary: The Madisonville real estate market had 87 homes for sale in March 2024, a 4.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 13 | 17 | +30.8% |
| 3 Bedrooms | 63 | 51 | -19.0% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Madisonville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 30.8%, 3 bedroom homes decreased by 19%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 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. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Madisonville in March 2024, up by 33.3% month-over-month. Of the 16 sold homes, 56% were sold under asking, 38% were sold at asking, and 6% were sold over asking.
Days on Market for Madisonville, TN
How long does it take to sell a home in Madisonville, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 57 Days | -1.3% |
Summary: Homes in Madisonville had an average of 57 days on market in Mar 2024, down by 1.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 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, 16 homes were sold in Madisonville; 63% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.