Is Madison, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Madison has remained a Seller's Market.
Housing Prices in Madison, VA
How much do homes in Madison, VA cost?
Median Sold Price
$472,487
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Madison was $472,487 in April 2024, up 32.7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $163.4K | $135K | -17.4% |
2 Bedrooms | $182.4K | $250K | +37.0% |
3 Bedrooms | $348K | $489.7K | +40.7% |
4 Bedrooms | $420.5K | $424.9K | +1.0% |
5+ Bedrooms | $315K | $450K | +42.9% |
Summary: Madison housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.4%, 2 bedroom homes increased by 37%, 3 bedroom homes increased by 40.7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 42.9%.
Housing Supply in Madison, VA
How many homes are available in Madison, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 22 | -12.0% |
Summary: The Madison real estate market had 22 homes for sale in April 2024, a 12.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 11 | 11 | 0.0% |
4 Bedrooms | 10 | 9 | -10.0% |
5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Madison housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 7 | -30.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Madison in April 2024, down by 30.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
62 Days | 28 Days | -53.8% |
Summary: Homes in Madison had an average of 28 days on market in Apr 2024, down by 53.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Madison; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.