Is Madison County, VA 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 Seller's Market.
Housing Prices in Madison County, VA
How much do homes in Madison County, VA cost?
Median Sold Price
$424,900
$214/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 $424,900 in April 2024, up 5.4% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $163.4K | $107.5K | -34.2% |
2 Bedrooms | $305K | $250K | -18.0% |
3 Bedrooms | $360.5K | $408.2K | +13.3% |
4 Bedrooms | $425K | $478.7K | +12.6% |
5+ Bedrooms | $1.0M | $524.9K | -50.1% |
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 34.2%, 2 bedroom homes decreased by 18%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 50.1%.
Median Sold Price Compared To Nearby Counties
Orange County | $374K | $399.9K | +6.9% |
Culpeper County | $423.3K | $450.1K | +6.3% |
Madison County | $403K | $424.9K | +5.4% |
Greene County | $382K | $399K | +4.5% |
Page County | $280K | $267.3K | -4.5% |
Housing Supply in Madison County, VA
How many homes are available in Madison County, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
57 | 68 | +19.3% |
Summary: The Madison County real estate market had 68 homes for sale in April 2024, a 19.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 35 | 43 | +22.9% |
4 Bedrooms | 16 | 19 | +18.8% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Madison County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.9%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 22 | +120.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Madison County in April 2024, up by 120.0% month-over-month. Of the 22 sold homes, 27% were sold under asking, 41% were sold at asking, and 32% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
62 Days | 21 Days | -64.9% |
Summary: Homes in Madison County had an average of 21 days on market in Apr 2024, down by 64.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 22 homes were sold in Madison County; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.