The Long & Foster Market Minute

Focus On: Madison County Housing Market September 2021

Units Sold
19
Active Inventory
22
Median Sale Price
$356,404
Days On Market
36
Up 6%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
The number of units sold remained stable in September, with 19 sold this month in Madison County Real Estate. This month's total units sold was higher than at this time last year, an increase of 25% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 39%. The total number of active inventory this September was 22 compared to 36 in September 2020. This month's total of 22 is lower than the previous month's total supply of available inventory of 28, a decrease of 21%.

Median Sale Price
Last September, the median sale price for Madison County Homes was $286,250. This September, the median sale price was $356,404, an increase of 25% or $70,154 compared to last year. The current median sold price is 4% lower than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
12
Current Contracts
14
Sold Vs. List Price
104.6%
Months of Supply
1.2
Down -25%
Vs. Year Ago
No Change
Vs. Year Ago
Up
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In September, there was 1.2 months of supply available in Madison County, compared to 2.0 in September 2020. That is a decrease of 42% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 12 homes newly listed for sale in Madison County compared to 16 in September 2020, a decrease of 25%. There were 14 current contracts pending sale this September, consistent with the volume a year ago. The number of current contracts is 17% higher than last month.

Sale Price to List Price Ratio
In September, the average sale price in Madison County was 104.6% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 105. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.