What happened in the Madison County, KY housing market the week of July 13–19, 2026?
Madison County homes sold at 97.7% of their current asking price the week of July 13–19, 2026, with a median sold price of $319,900 across 31 closings and 45 new listings hitting the market. The county-wide “sold to original list” figure looks lower — 86.9% — but that number is almost entirely the result of one long-overpriced luxury property, not a softening market. For most Berea and Richmond sellers, homes are still trading very close to ask.
By Devin Todd Azbill, REALTOR® | July 20, 2026
Here’s the number that will get quoted this week, and here’s why you should ignore it.
If you glance at the county data, you’ll see homes sold at 86.9% of their original list price. That sounds like sellers are leaving real money on the table. They’re not. That figure is being dragged down by a single sale — a 12-acre Richmond property that first came to market at $1,950,000 and finally closed at $804,000 after 259 days. One house, priced nearly a million dollars too high at launch, then cut and cut again until it found a buyer.
Because Madison County only closes about 30 homes in a typical week, that one sale moves the whole county average. Take it out, and the sold-to-original number jumps to 95.8%. Look at what homes sold for versus their most recent asking price, and the county came in at 97.7%.
That’s the difference between “the market is softening” and “one house was priced wrong from day one.” This week, it’s the second one.
This week’s numbers
| Stat | This week |
|---|---|
| New listings | 45 |
| Homes sold | 31 |
| Median sold price | $319,900 |
| Average days on market | 64 (median 40) |
| Sold to original list | 86.9% (95.8% without the outlier) |
A quick note on days on market: the average of 64 is stretched by three homes that sat 170-plus days before selling. The median of 40 days is a truer picture of how long a well-priced Madison County home is actually taking to sell right now.
Richmond vs. Berea
| Berea | Richmond | |
|---|---|---|
| Homes sold | 10 | 21 |
| Median sold price | $244,950 | $330,000 |
| Median days on market | 26 | 52 |
| Sold to original list | 95.4% | 84.4%* |
*Richmond is where the $1.95M outlier closed — strip it out and Richmond is also comfortably in the mid-90s.
Berea moved faster (26 days to Richmond’s 52) and leaned heavily on cash — 6 of its 10 closings were cash buyers. Richmond ran more financed deals and a higher price point.
What the closed sales tell you
A few things stood out in who’s actually buying and selling here:
- More than one in three buyers came from outside Madison County — 35% of closings went to out-of-county buyers, and 16% came from out of state. Demand isn’t just local.
- Cash is a major force. Ten of 31 closings — nearly a third — were cash, with Berea especially cash-heavy.
- First-time buyers made up 29% of closings, and sellers paid some or all of the buyer’s closing costs in about a quarter of sales.
If you’re a buyer competing here, know that you may be up against cash and relocation buyers. If you’re a seller, that out-of-county demand is real leverage — but only if your home is priced to get seen in the first place.
New construction is holding price. Resale should price differently.
Here’s something every resale seller in Berea or Richmond should understand before they set a number.
New-construction homes this week sold at 98.5% of their original list price — 100% in Berea, where builders didn’t budge a dollar on any closing. Resale homes, even setting aside the outlier, sold at a wider discount to their original ask.
Builders don’t negotiate the way individual homeowners do, and they carry a higher price per square foot ($195 for new construction versus $159 for resale this week). So when you see a shiny “sold at 98% of asking” statistic, understand that it’s often a builder number. If you’re selling a resale home, that’s not the benchmark you should price against — and it’s not the price-per-foot your home will command. This is exactly the kind of distinction I walk my clients through before we ever settle on a list price.
The homes that didn’t sell — and what they teach
Seventeen listings came off the market this week without selling, but that number needs context before it means anything.
Four of the nine “expired” listings were actually the same four-unit building on Ridgewood Drive in Berea, expiring together on one day — one owner’s decision, not four sellers reading the market. And two of the six “cancelled” listings were really relists in disguise: homes cancelled and immediately put back on the market with a fresh listing (one in Berea’s Central Park area even came back $20,000 higher).
The most useful lesson is in how the two cities priced their failed listings:
- Richmond’s expired sellers cut an average of 15% off their original price and still didn’t sell. That usually means the home was mispriced from the start, or has a condition or location issue that price alone won’t fix.
- Berea’s expired sellers barely moved — an average cut of just 2.7%. That’s the opposite problem: they never really tested price before their listing ran out of time.
Same outcome, completely different causes — and completely different fixes. One seller chased the market down; the other never met it. Pricing right on day one beats chasing the market every time.
The takeaway
Don’t let a single headline number scare you. The Madison County market the week of July 13–19 was steady — well-priced homes sold close to ask, in a median of about 40 days, to a healthy mix of local, out-of-county, and cash buyers. The listings that struggled struggled mostly on price, not on the market.
The right list price depends on your specific home, your neighborhood, and your timing — and that’s exactly what a real market analysis is for.
If you have questions about what’s happening in the Berea or Richmond market, or you want to know what your home would realistically sell for right now, I’m always happy to talk. Reach out anytime at toddky.com/contact.
Frequently Asked Questions
What is the median home price in Madison County, KY right now?
The median sold price the week of July 13–19, 2026 was $319,900 across 31 closings. Berea’s median came in at $244,950 and Richmond’s at $330,000. Median price shifts week to week with the mix of homes that close, so it’s best read as a trend over time.
Are homes in Berea and Richmond selling for asking price?
Yes — Madison County homes sold at about 97.7% of their current list price this week. The lower “sold to original list” figure of 86.9% was skewed by one luxury property that had been dramatically overpriced and heavily reduced. Most well-priced homes are trading within a few percent of ask.
How long are homes taking to sell in Madison County?
The median was about 40 days on market this week, with Berea faster (26 days) than Richmond (52 days). The average of 64 days was inflated by a few homes that lingered on the market for six months or more before selling.
Why do new-construction homes sell closer to asking price than resale homes?
Builders typically hold firm on price and rarely negotiate, so new construction sold at roughly 98.5% of original list this week. Resale sellers have more flexibility and often start higher, which is why blending the two into one figure can mislead a resale seller about what to expect.
Is now a good time to buy or sell in Madison County, KY?
It depends on your situation, but the current market is steady, with strong out-of-county and cash demand and well-priced homes selling in about 40 days. The best way to know what’s realistic for your home or budget is to run the numbers with a local agent who tracks this market weekly.
About Devin Todd Azbill, REALTOR®
Devin Todd Azbill, REALTOR® — Todd & Company (Todd & Company KY LLC), brokered by Berkshire Hathaway HomeServices Foster Realtors. A lifelong Berea, Kentucky resident, she brings local expertise, data-driven insight, and a proven track record to every transaction, with designations including ABR, SRES, PSA, e-PRO, and AHWD and recognition as a Top 2 BHHS agent in Kentucky. Whether you’re buying, selling, downsizing, or relocating to Madison County, she’d be glad to help. Call or text (859) 200-6513, email Devin@ToddKY.com, or start at toddky.com/contact.
