What happened in the Madison County, KY housing market the week of July 27 – August 2, 2026?
Madison County saw 44 new listings and 41 closed sales, with a median sold price of $330,000 and homes selling at 96.5% of original list price. The week’s real story was the gap between new construction, which closed at 99.3% of list and drew mostly out-of-county buyers, and resale homes, which came down to 95.6% of original list.
By Devin Todd Azbill, REALTOR® | August 3, 2026
If you’re getting ready to list your home in Richmond or Berea, this is the week to pay attention to who’s actually buying — because the answer changes the price you should expect.
This week’s numbers at a glance
| Metric | Madison County |
|---|---|
| New listings | 44 |
| Homes sold | 41 |
| Median sold price | $330,000 |
| Average days on market | 43 (median was 17) |
| Sold-to-original list price | 96.5% |
One quick note on that 43-day average: it’s pulled up by a handful of stale closings, including one new-construction home that sat 319 days. The median was 17 days — that’s the honest answer if you’re wondering how long a typical, well-priced home takes to sell right now.
New construction and resale are two different markets
Here’s what jumped out this week. If you blend every sale together, the county looks like it’s running at 96.5% of original list. But split it apart and you see two very different stories.
- New construction closed at 99.3% of original list, at a median of $357,814 and $217 per square foot.
- Resale homes closed at 95.6% of original list, at a median of $319,000 and $170 per square foot.
Builders held their price. Resale sellers negotiated. That’s not a fluke — it comes down to who’s writing the offers.
Of the 10 new-construction homes that sold, 70% went to buyers from outside Madison County, and half came from out of state. Resale homes drew a much more local crowd — 32% out-of-county and 16% out-of-state. The relocation dollar is chasing new builds, and relocating buyers tend to pay closer to asking because they’re comparing to prices back home, not haggling on a home they’ve watched sit.
Why this matters if you’re selling a resale home: if you benchmark your price against a shiny new build down the road — its price per square foot, its “sold at 99% of list” — you’ll overprice, sit, and end up cutting anyway. Resale is its own lane this week, and it’s negotiating.
Richmond vs. Berea
| Metric | Richmond | Berea |
|---|---|---|
| Closed sales | 29 | 11 |
| Median sold price | $348,560 | $254,900 |
| Median days on market | 17 | 28 |
| Resale sold-to-original | 96.0% | 93.3% |
Richmond’s resale homes moved fast — a 15-day median once you strip out new construction. Berea came in more affordable on median price, but its resale sellers gave up the most room in the county, closing at 93.3% of original. If you’re selling in Berea, price discipline out of the gate matters more than ever.
What’s happening with the homes that didn’t sell
Nine listings came off the market this week without selling: 4 expired, 1 withdrawn, and 4 cancelled. (One of those cancellations — a Berea home on Kings Trace Drive — was re-listed the same week at the same price, so it’s really a reset, not a lost sale.)
Here’s the pattern worth noting: the homes that failed didn’t over-cut — they under-adjusted. The expired listings had sat a median of 156 days and had only trimmed about 4% off their original price. Compare that to the homes that actually closed, which conceded around 4–5% to get to the finish line. In other words, the sellers who sold gave up more than the sellers who expired. A listing that’s been sitting for months and is only 4% off its original price hasn’t been tested — it’s been parked.
The takeaway
The headline number — 96.5% of list — is real, but it hides two different realities. New construction is holding firm because out-of-town money is buying it. Resale is negotiating because it’s selling to local buyers who know the market. If you’re about to list a resale home in Richmond or Berea, price it against comparable resale sales, not the new build down the street, and be ready to move on a fair offer rather than waiting for a number that isn’t coming.
Source: Local MLS data for Madison County, KY, status changes July 27 – August 2, 2026. Figures reflect single-family residential activity.
Every home is different, and the right list price depends on your home’s condition, location, and timing. That’s exactly the kind of number I run with my clients before we ever go live. If you’re thinking about selling in Richmond or Berea, I’d love to put together a no-pressure market analysis for you. Reach out anytime at toddky.com/contact, call or text (859) 200-6513, or email Devin@ToddKY.com.
Frequently Asked Questions
What is the median home price in Madison County, KY right now?
The median sold price for the week of July 27 – August 2, 2026 was $330,000 countywide — about $348,560 in Richmond and $254,900 in Berea. Median prices shift week to week with the mix of homes that close, so it’s best to look at a specific price range and neighborhood.
Are homes in Richmond and Berea selling for asking price?
It depends on the type of home. New-construction homes closed at about 99% of original list this week, while resale homes came down to roughly 95.6%. Resale sellers are negotiating more than builders are.
How long does it take to sell a house in Madison County, KY?
The median days on market this week was 17 days for a well-priced home. The average was higher (43 days) because a few older, higher-priced listings finally closed, but a typical home that’s priced right sells in about two to three weeks.
Why are new-construction homes selling closer to asking price?
This week, 70% of new-construction buyers came from outside Madison County and half from out of state. Relocating buyers tend to pay closer to list because they’re comparing to prices in their previous market, and builders generally hold firm on price rather than negotiating.
Should I price my resale home like the new construction nearby?
No. New construction sold at a higher price per square foot ($217 vs. $170 for resale) and held its price better this week. Pricing a resale home against a new build usually leads to overpricing, a longer time on market, and a price cut later.
About Devin Todd Azbill, REALTOR®
Devin Todd Azbill is a licensed REALTOR® with Todd & Company (Todd & Company KY LLC), brokered by Berkshire Hathaway HomeServices Foster Realtors, and a lifelong Berea, Kentucky resident. With over 100 closed transactions and $21M+ in career sales volume, she holds the ABR, SRES, PSA, e-PRO, and AHWD designations and was named a Top 2 BHHS agent in Kentucky (Q2 2025). Whether you’re buying, selling, downsizing, or relocating to Madison County, Devin brings local expertise, data-driven insight, and a proven track record to every transaction. Call or text (859) 200-6513 or email Devin@ToddKY.com.
