Is Madison County, MT 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 County has remained a Buyer's Market.
Housing Prices in Madison County, MT
How much do homes in Madison County, MT cost?
Median Sold Price
$512,250
$294/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Madison County was $512,250 in April 2024, down 20% from last year, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $317.5K | $225K | -29.1% |
2 Bedrooms | $622K | $460K | -26.0% |
3 Bedrooms | $640K | $529.9K | -17.2% |
4 Bedrooms | $740K | $700K | -5.4% |
5+ Bedrooms | $895K | $825K | -7.8% |
Summary: Madison County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.1%, 2 bedroom homes decreased by 26%, 3 bedroom homes decreased by 17.2%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 7.8%.
Median Sold Price Compared To Nearby Counties
Beaverhead County | $340K | $377.5K | +11.0% |
Gallatin County | $676.7K | $716.1K | +5.8% |
Silver Bow County | $264.3K | $275K | +4.0% |
Jefferson County | $534.5K | $499.4K | -6.6% |
Madison County | $640K | $512.2K | -20.0% |
Housing Supply in Madison County, MT
How many homes are available in Madison County, MT?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 75 | +2.7% |
Summary: The Madison County real estate market had 75 homes for sale in April 2024, a 2.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 8 | +60.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 38 | 42 | +10.5% |
4 Bedrooms | 17 | 15 | -11.8% |
5+ Bedrooms | 9 | 6 | -33.3% |
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 60%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 8 | +14.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Madison County in April 2024, up by 14.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Madison County, MT
How long does it take to sell a home in Madison County, MT?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
88 Days | 186 Days | +111.4% |
Summary: Homes in Madison County had an average of 186 days on market in Apr 2024, up by 111.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Madison County; 13% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.