Madison County KY sold 115 homes in August 2026 at a $285,000 median in 28 days.
See Richmond & Berea numbers, and why the median misleads resale sellers.
If you’ve been watching home prices in Richmond, Berea, and the rest of Madison County, August 2026 looks steady on the surface — but there’s a wrinkle underneath the headline number that every seller should understand before they list.
Here’s the quick version: 115 homes sold, at a median price of $285,000, in a median of 28 days, and sellers netted about 96.8% of their original asking price. Healthy, balanced-to-firm numbers. But that county median hides a real gap between brand-new construction and everyday resale homes.
Why the median misleads resale sellers
Nearly one in four homes that sold in August was brand-new construction — 28 of the 115. Builders held 98.4% of their original asking price (99.6% in Richmond — basically full price), and their homes carried a median of $349,950. Resale homes were a different market entirely: a median of $282,000, holding 96.1% of ask, and selling in a median of just 18 days versus 72 days for new builds.
Blend those together and the county average climbs to $321,513 — pulled up by builder inventory and a few large-acreage sales. If you own a resale home, $282,000 and 18 days is your reality, not the $321K average. Builders can hold near-full price because they control supply and offer incentives instead of price cuts. Price your resale home to the builder down the street and it will sit; price it to the market and it’ll move fast — nearly half of all August sales (47.8%) closed at or above list.
Berea vs. Richmond
| Berea | Richmond | |
|---|---|---|
| Homes sold | 40 | 73 |
| Median sold price | $240,000 | $325,000 |
| Resale median | $247,500 | $299,000 |
| New-construction median | $219,950 | $388,876 |
| Median days on market | 32 | 24 |
Interesting twist: in Berea, new construction homes actually sold below resale prices — a median of $219,950 — because the new product there is mostly smaller one-level townhomes and cottages (Ridgewood, West Park, Harvest Park neighborhoods). Those homes sat a median of 86 days, so Berea is where buyers have the most room to negotiate on a brand-new home right now. In Richmond, new construction is the premium tier at nearly $389K and selling at full price.
Who’s buying
About 24% of August buyers paid with cash, 26% were first-time home buyers, and nearly 30% came from outside of Madison County — a lot of them from Lexington and Fayette County chasing more house and more land. Roughly 35% of sellers paid some of the buyer’s closing costs, if not all of them, which tells you that concessions have replaced the frenzied bidding of a few years ago.
Notable August homes
• Highest Listing Sold: 157 Northridge Way, Richmond — $907,500, 5,000 sq ft on 16.5 acres (sold at auction).
• Land + character: 445 Charles White Road, Richmond — $527,500, an 11-acre horse mini-farm with a Generac generator, double-sided stone fireplace, and pond.
• Most affordable: 174 Cedar Drive, Berea — $45,000 cash, as-is.
Heading into fall
With about 361 active listings, 171 already under contract, and roughly 3 months of supply, Madison County stays a moderate seller’s market — good homes move, overpriced ones don’t. Buyers: your best leverage is on Berea new construction and anything that’s been sitting. Sellers: price to the resale reality and be ready to help with closing costs.
Curious what your home is actually worth today?
I’ll give you a straight, data-backed answer for your specific home and for your neighborhood — not a computer guess. Call or text me at (859) 200-6513 or email me at Devin@ToddKY.com.
