Is Madison County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Madison County has remained a Seller's Market.
Housing Prices in Madison County, VA
How much do homes in Madison County, VA cost?
Median Sold Price
$426,500
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Madison County was $426,500 in June 2024, up 13.9% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $149.2K | $215K | +44.1% |
2 Bedrooms | $305K | $240K | -21.3% |
3 Bedrooms | $360.5K | $425K | +17.9% |
4 Bedrooms | $425K | $525K | +23.5% |
5+ Bedrooms | $465K | $477.5K | +2.7% |
Summary: Madison County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.1%, 2 bedroom homes decreased by 21.3%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 2.7%.
Median Sold Price Compared To Nearby Counties
Madison County | $374.5K | $426.5K | +13.9% |
Culpeper County | $440K | $465K | +5.7% |
Orange County | $385.2K | $399.9K | +3.8% |
Page County | $270K | $280K | +3.7% |
Greene County | $382K | $387K | +1.3% |
Housing Supply in Madison County, VA
How many homes are available in Madison County, VA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
78 | 77 | -1.3% |
Summary: The Madison County real estate market had 77 homes for sale in June 2024, a 1.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 45 | 40 | -11.1% |
4 Bedrooms | 20 | 19 | -5.0% |
5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Madison County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
17 | 19 | +11.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Madison County in June 2024, up by 11.8% month-over-month. Of the 19 sold homes, 47% were sold under asking, 32% were sold at asking, and 21% were sold over asking.
Days on Market for Madison County, VA
How long does it take to sell a home in Madison County, VA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
54 Days | 24 Days | -54.4% |
Summary: Homes in Madison County had an average of 24 days on market in Jun 2024, down by 54.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 19 homes were sold in Madison County; 68% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.