Is Madison County, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Madison County was a Buyer's Market.
Key Takeaway
Madison County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Madison County, IA
How much do homes in Madison County, IA cost?
Median Sold Price
$267,500
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Madison County have sold for 20.1% more than they did a year ago.
Summary: The median home sold price in Madison County was $267,500 in April 2024, up 20.1% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $81.5K | N/A |
| 2 Bedrooms | $181K | $194K | +7.2% |
| 3 Bedrooms | $212.7K | $268K | +26.0% |
| 4 Bedrooms | $270K | $321K | +18.9% |
| 5+ Bedrooms | $376K | $355K | -5.6% |
Summary: Madison County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 26%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Counties
| Madison County | $222.7K | $267.5K | +20.1% |
| Adair County | $152K | $180K | +18.4% |
| Warren County | $284K | $300.8K | +5.9% |
| Dallas County | $337.4K | $349.8K | +3.7% |
Housing Supply in Madison County, IA
How many homes are available in Madison County, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 65 | 75 | +15.4% |
Summary: The Madison County real estate market had 75 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 14 | 13 | -7.1% |
| 3 Bedrooms | 21 | 25 | +19.0% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Madison County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madison County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Madison County in April 2024, down by 25.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Madison County, IA
How long does it take to sell a home in Madison County, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 58 Days | +26.7% |
Summary: Homes in Madison County had an average of 58 days on market in Apr 2024, up by 26.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Madison County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Madison County; 42% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
