Is Madison, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Madison was a Neutral Market.
Housing Prices in Madison, VA
How much do homes in Madison, VA cost?
Median Sold Price
$425,000
$301/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Madison was $425,000 in March 2024, down 1.7% from last month, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $375K | $624.9K | +66.7% |
4 Bedrooms | $770K | $289.5K | -62.4% |
5+ Bedrooms | - | $425K | N/A |
Summary: Madison housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 62.4%, and 5+ bedroom homes did not change.
Housing Supply in Madison, VA
How many homes are available in Madison, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 27 | +12.5% |
Summary: The Madison real estate market had 27 homes for sale in March 2024, a 12.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 7 | 9 | +28.6% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Madison 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 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 9 | +125.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Madison in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 78% were sold at asking, and 0% were sold over asking.
Days on Market for Madison, VA
How long does it take to sell a home in Madison, VA?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
77 Days | 71 Days | -8.7% |
Summary: Homes in Madison had an average of 71 days on market in Mar 2024, down by 8.7% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Madison; 11% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.