Is Madison Heights, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Madison Heights has remained a Seller's Market.
Key Takeaway
Madison Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madison Heights, VA
How much do homes in Madison Heights, VA cost?
Median Sold Price
$234,900
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Madison Heights have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Madison Heights was $234,900 in March 2024, up 6.8% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $146.1K | $152.5K | +4.3% |
| 3 Bedrooms | $225K | $231.5K | +2.9% |
| 4 Bedrooms | $270K | $267.9K | -0.8% |
| 5+ Bedrooms | $272K | $277K | +1.8% |
Summary: Madison Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 1.8%.
Housing Supply in Madison Heights, VA
How many homes are available in Madison Heights, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 51 | +37.8% |
Summary: The Madison Heights real estate market had 51 homes for sale in March 2024, a 37.8% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 20 | 33 | +65.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Madison Heights 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 decreased by 25%, 3 bedroom homes increased by 65%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison Heights, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Madison Heights in March 2024, down by 15.4% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Madison Heights, VA
How long does it take to sell a home in Madison Heights, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 19 Days | 85 Days | +332.2% |
Summary: Homes in Madison Heights had an average of 85 days on market in Mar 2024, up by 332.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madison Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Madison Heights; 73% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement. 
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.