Is Madison Heights, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Madison Heights has remained a Seller's Market.
Housing Prices in Madison Heights, VA
How much do homes in Madison Heights, VA cost?
Median Sold Price
$250,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Madison Heights was $250,000 in May 2024, up 17.2% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $105K | N/A |
2 Bedrooms | $126.5K | $164K | +29.6% |
3 Bedrooms | $214.5K | $250K | +16.6% |
4 Bedrooms | $270K | $299K | +10.7% |
5+ Bedrooms | $290K | $277K | -4.5% |
Summary: Madison Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.6%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply in Madison Heights, VA
How many homes are available in Madison Heights, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 69 | +72.5% |
Summary: The Madison Heights real estate market had 69 homes for sale in May 2024, a 72.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 3 | 6 | +100.0% |
3 Bedrooms | 26 | 42 | +61.5% |
4 Bedrooms | 9 | 15 | +66.7% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Madison Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 61.5%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 21 | +16.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Madison Heights in May 2024, up by 16.7% month-over-month. Of the 21 sold homes, 24% were sold under asking, 33% were sold at asking, and 43% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
9 Days | 16 Days | +67.0% |
Summary: Homes in Madison Heights had an average of 16 days on market in May 2024, up by 67% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Madison Heights; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.