How did the Madison County, KY housing market do the week of August 10–16, 2026?
Madison County saw 46 new listings and 31 closings the week of August 10–16, 2026, with a median sold price of $282,000 and homes averaging 49 days on market. The raw MLS data showed homes selling at 102% of original list — but that figure was distorted by a single mis-keyed record. The accurate number is about 97% of original list, meaning sellers netted close to, but slightly under, their original asking price.
By Devin Todd Azbill, REALTOR® | August 17, 2026
Here’s the number that almost fooled me this week.
When I pulled the Madison County numbers Monday morning, the sold-to-original-list ratio came back at 102%. On paper, that says the average seller in Richmond, Berea, and across the county sold for more than they originally asked. Over asking. In this market, that would be a headline.
It wasn’t real.
One closing — a Richmond property on Rolling Ridge Lane — was entered with an original list price of $400,000 and a sale price of $907,500. That’s 227% of list, which doesn’t happen. Dig one layer down and there’s a near-identical record on Northridge Way: same acreage, same $907,500 price, same closing date, but listed cleanly at $907,500. One of the two was typed wrong.
Pull that single bad record out, and the county’s real number drops to 96.9% — about 97% of original list. That’s the difference between “the Madison County market is heating up and homes are selling over asking” and “one house was typed wrong.” I’d rather give you the honest 97% than a headline that costs you at the negotiating table.
This week’s numbers
Here’s where Madison County landed, week of August 10–16, 2026:
- New listings: 46 (about 42 genuinely new — four are relists)
- Homes sold: 31
- Median sold price: $282,000
- Average days on market: 49
- Sold to original list price: ~97% (corrected)
- Cash buyers: 29% of closings
- First-time buyers: 32% of closings
What 97% actually means for you as a seller
Ninety-seven percent of original list is a healthy, balanced number. It means a well-priced home is selling close to what you ask — but the market is not handing sellers a premium over asking right now. If you price ambitiously expecting a bidding war, the data doesn’t support it this week.
The homes that sold fast and near asking had one thing in common: they were priced right from day one. The median resale home spent just 10 days on market before going under contract. The ones that lingered? They’re mostly new-construction spec homes and a few resales that started high.
That’s the whole game right now — get the price right on day one, and Madison County buyers are still showing up with strong offers, including a lot of cash.
Richmond vs. Berea
The two markets are not moving in lockstep, and if you own in one, the other’s numbers can mislead you.
| Richmond | Berea | |
|---|---|---|
| Closings | 16 | 15 |
| Median sold price | $349,950 | $250,000 |
| Median days on market | 12 | 30 |
| Sold to original list | ~97% (corrected) | 96% |
Richmond is pricier and faster — a median 12 days to contract versus 30 in Berea. Richmond’s headline ratio looked like 106% this week, but that’s the same mis-keyed record inflating it; the real Richmond number sits near asking, not above it. Berea’s data is clean, and 96% is the honest read there.
One Berea note worth flagging: 40% of Berea sellers this week moved out of state. That’s a high migration-out share, and it usually signals people cashing out equity to relocate — often retirees or remote workers making a move.
What’s happening in the closed data
A few things stood out beyond the price ratios:
- Cash is strong. Nearly a third of all closings — 9 of 31 — were cash. Cash buyers move fast and close clean, which is part of why well-priced homes are going quickly.
- First-time buyers are active. Almost a third of closings were first-time buyers, and half of new-construction sales went to first-timers. Builders offering closing-cost help are capturing that buyer.
- Demand is regional, not distant. About a third of buyers came from outside Madison County, but only one closing this week was an out-of-state buyer. This is Central Kentucky demand — Lexington-metro families and locals moving up.
Which listings came off market — and why it’s not what it looks like
This is where a raw count lies. The MLS shows 9 cancellations and 1 withdrawal this week, with zero expirations. Nine cancellations sounds like sellers giving up.
They didn’t.
- Four of the nine were cancel-and-relists — the same house cancelled and immediately re-listed, usually to reset days-on-market or adjust price. One even came back $57,000 higher.
- One was a data-entry cancellation (that $3.85 million typo on a $385,000 home).
- That leaves about four genuine walk-aways — and even those barely cut price before pulling. The average price reduction on cancellations was just 3% off original.
Translation: this was not a week of sellers slashing prices and finding no buyers. It was mostly builders repositioning inventory and a couple of sellers who never truly tested a lower price. If your home isn’t selling, the lesson from this week’s data is almost always price and presentation on day one — not a broken market.
The takeaway
Madison County had a normal, balanced week: homes selling at about 97% of original list, well-priced resales going under contract in about 10 days, and steady cash and first-time-buyer demand across Richmond and Berea. The market isn’t handing out over-asking premiums, but it’s rewarding sellers who price right the first time.
Frequently Asked Questions
What is the average home price in Madison County, KY right now?
The median sold price for the week of August 10–16, 2026 was $282,000 across 31 closings. Richmond’s median was higher at $349,950, and Berea’s was $250,000. Median is a better gauge than average here, because a few high-end and new-construction sales pull the average up.
Are homes in Madison County selling over asking price?
No. The raw data showed 102% of original list this week, but that was distorted by one mis-keyed record. The accurate figure is about 97% of original list — meaning homes are selling close to, but slightly under, what sellers originally asked. Well-priced homes still sell quickly.
How long does it take to sell a home in Richmond or Berea, KY?
This week, the median resale home went under contract in about 10 days county-wide — 12 days in Richmond and 30 in Berea. New-construction homes take much longer, with a median of over 100 days. Pricing correctly from day one is the biggest factor in speed.
Is now a good time to buy in Madison County, KY?
Buyers had real leverage this week, with homes selling near asking rather than over it, and about a third of purchases made in cash. Inventory is steady with 46 new listings. Whether it’s the right time depends on your budget, financing, and timeline — that’s a conversation worth having before you start.
Why do so many listings get cancelled each week?
Most cancellations aren’t sellers giving up. This week, four of nine were cancel-and-relists — the same home re-listed to reset days-on-market or change price — and one was a data-entry error. Only about four were genuine withdrawals from the market.
Ready to talk about your Madison County home?
Madison County had a steady, balanced week — about 97% of original list, well-priced homes moving in roughly 10 days, and strong cash and first-time-buyer demand. The market rewards sellers who price right on day one. If you have questions about what’s happening in Richmond, Berea, or anywhere in Madison County, I’m always happy to chat. Reach out anytime at toddky.com/contact or call (859) 200-6513.
About Devin Todd Azbill, REALTOR®
Devin Todd Azbill (she/her) 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, was named a Top 2 BHHS agent in Kentucky (Q2 2025), and has earned 175 five-star reviews across Google, Zillow, Realtor.com, and FastExpert. Whether you’re buying, selling, downsizing, or relocating to Madison County, Devin brings local expertise, data-driven insights, and a proven track record to every transaction. Reach her at (859) 200-6513 or Devin@ToddKY.com.
