What happened in the Madison County, KY housing market the week of July 20, 2026?
Madison County saw 57 new listings and 38 closed sales the week of July 20–26, 2026, with a median sold price of $315,000, an average of 33 days on market, and homes selling at 98.8% of their original list price. Nearly every closing sold at asking, only two of 38 sales took a real discount, and both were property-specific rather than signs of a softening market. New construction held firmest at $215 per square foot and 99.5% of list.
By Devin Todd Azbill, REALTOR® | July 27, 2026
If you’re watching the Madison County market to time a move, this is the number that matters this week: homes sold at 98.8% of their original asking price. Not the list price after cuts, the original number sellers started with.
That tells you something specific. When homes are selling within a percent or two of where they started, the market isn’t asking sellers to give ground. It’s rewarding the ones who priced right the first time.
Here’s the week in five numbers:
- 57 new listings hit the market
- 38 homes sold
- $315,000 median sold price
- 33 average days on market
- 98.8% sold-to-original list price
More homes came to market than left it, 57 new against 38 sold, so buyers have a little more to choose from heading into August. But the ones that are priced correctly aren’t sitting.
The two exceptions prove the rule
Out of 38 closings, only two took a real discount: a farm property out in Waco that closed around 73% of its original ask, and a rural home near Richmond at about 74%. Both had specific situations, a big original number, a long road down, property-specific factors.
That’s the whole story in one line: the difference between “the market is softening” and “two houses were priced wrong.” Strip those two out and the typical Madison County home sold at essentially 100% of what the seller first asked.
If you’re a seller, this is the coaching I give every client at the listing table: the market will pay you full price for a home priced to the market, and it will make you chase it down if you start too high. The homes that took the deepest cuts this week weren’t unlucky. They started above where the comparable sales said they should.
New construction is playing a different game
Builders held the line again. New-construction closings ran $215 per square foot and 99.5% of list, versus about $168 per square foot on resale. That’s a real premium, and it matters if you own an existing home.
The price-per-foot a builder is getting three streets over is not the number your 2005 home will be quoted at. New construction comes with warranties, current finishes, and a builder who won’t negotiate. When you’re setting your resale price, compare to resale sales — not the shiny new build down the road. Mixing the two is how sellers end up overpriced and confused about why showings dried up.
Richmond vs. Berea
| Richmond | Berea | |
|---|---|---|
| Closed sales | 33 | 3 |
| New listings | 41 | 11 |
| Median sold price | $327,500 | $251,000 |
| Median $/sqft | $179 | $149 |
| Sold to original list | 99.4% | 99.4% |
Richmond carried the county — 33 of the 38 closings — with strong pricing and steady out-of-county demand. Berea looked quieter on closings, and at first glance its five off-market listings against just three sales looks alarming. It isn’t. Four of those five were cancellations, and two were new-construction units that had sat 222 and 288 days — builders resetting stale inventory, not homeowners giving up. Berea’s resale homes that were priced right moved fast, averaging just 11 days on market.
Who’s buying
Of the 38 closings, about 21% were cash and more than a third of buyers came from outside Madison County — steady in-migration, much of it into Richmond. First-time buyers made up roughly 18% of sales, and sellers paid some closing costs in about a third of transactions. So buyers still have a little room to negotiate on terms, even when they aren’t getting it on price.
The homes that didn’t sell
Twelve listings came off the market without selling, 2 expired, 4 withdrawn, 6 cancelled. But those three words mean very different things. Expired means the listing agreement simply ran out. Withdrawn means it’s temporarily off-market and could come back. Cancelled often means a reset or a relist, not a defeat, and this week most of the cancellations barely touched their price before pulling. That’s repositioning, not rejection.
The one clear lesson sits in the expired column: a luxury home in Boones Trace sat on the market for 351 days and still expired, having cut its price only about 5%. At the top of this market, time on the market doesn’t clear a listing. Price does.
The takeaway
Madison County isn’t softening, it’s rewarding precision. Price your home to the actual comparable sales and you’ll sell at or near ask, often quickly. Start high and the market will make you chase it down, or worse, sit. The gap between those two outcomes is entirely in the pricing.
Source: Madison County MLS status data, July 20–26, 2026, all residential single-family listings.
If you have questions about what’s happening in the Madison County, Richmond, or Berea market, or you want to know what your home would realistically sell for today, I’m always happy to talk it through. Reach out anytime at https://toddky.com/contact/ or call me directly at (859) 200-6513.
What is the median home price in Madison County, KY right now?
The median sold price for residential homes in Madison County the week of July 20–26, 2026 was $315,000. Richmond ran higher at a $327,500 median, and Berea came in at $251,000. New-construction closings carried a higher median of about $366,750.
Are homes in Madison County selling for asking price?
Yes — for the most part. Homes sold at 98.8% of their original asking price this week, meaning the typical closing landed within a percent or two of where the seller started. The only real discounts came from two property-specific listings, not a broad market softening.
How long are homes taking to sell in Richmond and Berea, KY?
Homes averaged 33 days on market across Madison County the week of July 20, 2026, with a median closer to 25 days. Well-priced Berea resale homes moved faster, averaging about 11 days. Overpriced and luxury listings sat much longer — one high-end home was on the market nearly a year before expiring.
Is now a good time to sell a home in Madison County?
With 57 new listings against 38 sales this week, buyers have more choices, so pricing to the market matters more than ever. Homes priced correctly are still selling at or near asking, often quickly. A local market analysis is the best way to find your right number.
Why is new construction priced higher than resale in Madison County?
New-construction homes sold at about $215 per square foot versus roughly $168 for resale this week, and builders held nearly 99.5% of list. New builds carry warranties, current finishes, and builders who don’t negotiate on price. When pricing a resale home, compare to other resale sales, not to new construction.
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 market insight, and a proven track record to every transaction — whether you’re buying, selling, downsizing, or relocating anywhere in Madison County. She publishes a Madison County market update every Monday. Reach her at (859) 200-6513 or Devin@ToddKY.com.