Is Madison, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Madison is a buyer's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Madison was a Neutral Market.

Key Takeaway

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

How much do homes in Madison, VA cost?

Median Sold Price

$323,750

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$44,037(+15.7%)

Key Takeaway

Homes in Madison have sold for 15.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 --
N/A
2 $279K$245.3K
-12.1%
3 $266K$305K
+14.7%
4 $340K$395K
+16.2%
5+ $402.9K$434.9K
+7.9%

Median Sold Price Compared To Nearby Cities

Woodford
+29.6%
Berkeley
+19.8%
Madison
+15.7%
Ruther Glen
+12.3%
Mattaponi
+4.3%

How many homes are available in Madison, VA?

Number of Homes For Sale

Oct 2022Nov 2022%
126113-10.3%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 32
-33.3%
3 7468
-8.1%
4 4338
-11.6%
5+ 65
-16.7%

Number of Homes Sold

Oct 2022Nov 2022%
2715-44.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 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. 53.3% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
22 Days31 Days+37.4%

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Madison, VA

Madison, VA has 113 homes on the market. In November 2022 in Madison, VA there were 10.3% less homes for sale than in October 2022. The median list price of listings available in November 2022 was $323,750, while the average time on the real estate market was 31 days. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties prices decreased by 12.1%, prices of 3 bedrooms properties increased by 14.7%, the cost of 4 bedrooms properties went up by 16.2%, 5 bedrooms properties prices increased by 7.9%. This housing market inventory have changed: 1 bedroom homes did not move, number of 2 bedrooms homes decreased by 33.3%, the quantity of 3 bedrooms homes went down by 8.1%, 4 bedrooms homes became 11.6% less available, 5 bedrooms homes became 16.7% less available. In November 2022, from all listings sold in Madison, VA there were more than 3 sold above asking price, over 8 sold below and more than 4 were sold right at the asked price.

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