Is Madison County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Madison County has remained a Buyer's Market.
Housing Prices in Madison County, VA
How much do homes in Madison County, VA cost?
Median Sold Price
$385,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Madison County was $385,000 in February 2024, up 0.7% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $135K | N/A |
2 Bedrooms | $305K | $250K | -18.0% |
3 Bedrooms | $355K | $369K | +3.9% |
4 Bedrooms | $475K | $466.2K | -1.8% |
5+ Bedrooms | $1.0M | $524.9K | -50.1% |
Summary: Madison County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 18%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 50.1%.
Median Sold Price Compared To Nearby Counties
Orange County | $353K | $396.1K | +12.2% |
Culpeper County | $415.5K | $450.1K | +8.3% |
Madison County | $382.5K | $385K | +0.7% |
Housing Supply in Madison County, VA
How many homes are available in Madison County, VA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
53 | 59 | +11.3% |
Summary: The Madison County real estate market had 59 homes for sale in February 2024, a 11.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 30 | 29 | -3.3% |
4 Bedrooms | 15 | 23 | +53.3% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Madison County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 53.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
8 | 4 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Madison County in February 2024, down by 50.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
128 Days | 77 Days | -39.3% |
Summary: Homes in Madison County had an average of 77 days on market in Feb 2024, down by 39.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 4 homes were sold in Madison County; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.