Madison County, KY Residential Market Update: Insights from the Past Week
If you’re keeping an eye on the real estate market in Madison County, KY, you’re probably curious about the latest trends and how things are shaping up. Well, let’s dive into the numbers from the past 7 days and take a closer look at what’s happening in the local housing market.
Average Sold Price: $312,686
In the last week, homes in Madison County have been selling for an average price of $312,686. This gives us a solid indication of the current pricing trends in the area. Whether you’re a buyer or a seller, understanding this price point is key to making informed decisions.
Days on Market: 45
On average, homes in the area are spending 45 days on the market before they sell. This is a relatively moderate timeframe, suggesting that while there’s a steady demand, properties are not flying off the shelves immediately. Buyers may have some time to negotiate, but sellers should still be prepared for a competitive market.
Homes Sold: 15
Over the past week, 15 homes have officially closed in Madison County. This is a healthy number that speaks to an active market, with buyers and sellers actively transacting. Whether you’re looking to sell or purchase, it shows that homes are moving and there is ongoing interest in the area.
List-to-Sell Price: 97.78%
Homes are selling for an average of 97.78% of their list price. This percentage shows that while some negotiation is occurring, most properties are closing near their original asking price. Sellers are still able to fetch a strong return, and buyers are likely getting fair value for what they’re purchasing.
New Listings: 24
The market is seeing some fresh inventory with 24 new listings hitting the market in the past week. This is great news for buyers looking for more options and for those trying to gauge the overall supply and demand dynamics.
Homes Under Contract: 21
Another key stat is that 21 homes are currently under contract. This shows that there is strong buyer interest and that properties are moving quickly through the pipeline. If you’re considering listing your home, this may be a good indicator that now is the time to take action, as demand is certainly present.
Key Takeaways
Overall, the Madison County real estate market is active and balanced with steady sales, moderate days on market, and a healthy number of listings and closings. Whether you’re a buyer, seller, or investor, there are definitely opportunities in this market right now.
If you’re looking to buy or sell in Madison County, understanding these stats can help you make more strategic decisions. Stay tuned for future updates, and don’t hesitate to reach out for more personalized advice or to explore available properties!