Is Madison County, IL 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, IL
How much do homes in Madison County, IL cost?
Median Sold Price
$174,603
$112/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 $174,603 in April 2024, up 3.9% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $47.5K | $42K | -11.6% |
2 Bedrooms | $95K | $106.5K | +12.1% |
3 Bedrooms | $172.7K | $183.7K | +6.4% |
4 Bedrooms | $291.6K | $307.8K | +5.6% |
5+ Bedrooms | $380.9K | $419K | +10.0% |
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 11.6%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Counties
Jersey County | $136K | $149.5K | +9.9% |
Bond County | $138K | $147.2K | +6.7% |
Saint Clair County | $189.8K | $199.9K | +5.3% |
Macoupin County | $119.9K | $125.4K | +4.5% |
Madison County | $168.1K | $174.6K | +3.9% |
Housing Supply in Madison County, IL
How many homes are available in Madison County, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
840 | 903 | +7.5% |
Summary: The Madison County real estate market had 903 homes for sale in April 2024, a 7.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 9 | -25.0% |
2 Bedrooms | 206 | 215 | +4.4% |
3 Bedrooms | 405 | 429 | +5.9% |
4 Bedrooms | 169 | 196 | +16.0% |
5+ Bedrooms | 48 | 54 | +12.5% |
Summary: The Madison County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
273 | 273 | 0.0% |
Asking Price vs. Sold Price
100 Homes Were Sold
Under Asking
64 Homes Were Sold
At Asking
109 Homes Were Sold
Over Asking
Summary: A total of 273 homes were sold or pending in Madison County in April 2024, the same as the previous month. Of the 273 sold homes, 37% were sold under asking, 23% were sold at asking, and 40% were sold over asking.
Days on Market for Madison County, IL
How long does it take to sell a home in Madison County, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 48 Days | -6.4% |
Summary: Homes in Madison County had an average of 48 days on market in Apr 2024, down by 6.4% compared to last year.
Breakdown of Home Sale Times
127 Homes Were Sold
Under 30 Days
107 Homes Were Sold
In 30 - 90 Days
35 Homes Were Sold
Over 90 Days
Summary: During April 2024, 273 homes were sold in Madison County; 47% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.