What happened in the Madison County, KY housing market the week of July 13–19, 2026?
Madison County homes closed at about 97.7% of their most recent list price this week across 31 sales, with a median sold price of $319,900. The county’s sold-to-original-list figure reads 86.9%, but that number is skewed almost entirely by one Richmond luxury home that started at $1.95 million and finally sold at $804,000 after 259 days. Strip that single sale out and the county sold within roughly 96% of original list — the real story for a normally priced home.
By Devin Todd Azbill, REALTOR® | July 20, 2026
If you only looked at one number this week, you might think Madison County sellers are suddenly taking big haircuts. They’re not. Let me show you what actually happened — and why one house is doing almost all the damage to that headline stat.
This week’s numbers
- New listings: 46 (two of those are cancel-and-relists of the same homes, so genuinely new inventory is closer to 44)
- Homes sold: 31
- Median sold price: $319,900
- Average days on market: 64 (median was a much healthier 40 — a few very long-sitting listings pull the average up)
- Sold-to-original list price: 86.9% as reported — but 95.8% once the one outlier below is set aside
The one house skewing the county number
Here’s the sale everyone will misread: a 12-acre estate on Overlook Trail in Richmond. It first listed at $1,950,000, sat for 259 days, and closed this week at $804,000 — about 41% of the original ask.
Drop that single sale from the math and the county’s sold-to-original-list price jumps from 86.9% to 95.8%. That’s an 8.8-point swing from one home. This is the difference between “the market is softening” and “one house was priced roughly a million dollars too high for the better part of a year.” Every other closing in the county came in within a few points of where the seller actually listed.
The takeaway for you as a seller: price your home correctly and today’s Madison County market rewards you with a sale in the mid-to-high 90s of your list. Overprice it, and you become the outlier that sits for eight months.
Richmond vs. Berea
| Metric | Richmond | Berea |
|---|---|---|
| Homes sold | 21 | 10 |
| Median sold price | $330,000 | $244,950 |
| Sold-to-list | 97.5% | 98.1% |
| Median days on market | 52 | 26 |
| New listings | 30 | 15 |
Berea’s smaller, lower-priced inventory is moving faster — a 26-day median versus Richmond’s 52. Richmond carries the higher price point and the bulk of the new-construction activity in neighborhoods like Firebrook, Carriage Place, and Crutcher Pike Estates.
What the closed sales tell you about buyers
Cash was unusually strong this week — 10 of 31 closings were cash, and in Berea 6 of 10 buyers paid cash. Out-of-county buyers accounted for about 35% of all closings and half of the new-construction sales, a healthy sign that people are still moving into Madison County. First-time buyers made up 29% of sales overall but nearly 40% of resale purchases — first-timers are shopping the existing-home stock, not the new builds.
New construction is holding its price
Builders closed at about 98.5% of original list countywide, versus resale’s 83.4% (again, dragged down by that one outlier). Builders rarely negotiate off their number, so if you’re comparing a brand-new home to a resale down the street, expect less room to move on the new build. Once you set the outlier aside, though, well-priced resale homes are selling within a few points of the builders — the market is not discounting homes that are priced right.
The homes that didn’t sell
Seventeen listings came off the market without selling — but they don’t all mean the same thing, and the raw count overstates the trouble:
- Expired (9): Four of these were units in a single Berea building on Ridgewood Drive that all lapsed the same day — one owner’s decision, not four independent sellers reading a weak market.
- Withdrawn (2): Temporarily off-market with the listing agreement still alive. These sellers often come back.
- Cancelled (6): Three were builders resetting or repricing — one Berea home was even cancelled and relisted the same week at a $20,000 higher price. That’s not a failure.
Here’s the most useful pattern for anyone about to list: the Richmond homes that expired had cut their price a median of 15% and still didn’t sell, while the Berea homes that expired cut just 3%. Those are opposite problems. The Richmond sellers chased the market down for months and buyers still passed — a sign the price was wrong from the start or the home has a condition or location issue that discounting alone won’t fix. The Berea sellers never really tested price at all. If your home isn’t selling, the right fix depends entirely on which of those situations you’re in — and that’s exactly the conversation I have with sellers before we ever set a number.
Frequently Asked Questions
What is the median home price in Madison County, KY right now?
The median sold price for the week of July 13–19, 2026 was $319,900 across 31 closings. Richmond’s median was $330,000 and Berea’s was $244,950. Median is a better gauge than average here, because a few very high- and very low-priced sales can distort the average in a market this size.
Are homes in Madison County selling below asking price?
No — most are selling very close to it. Homes closed at about 97.7% of their most recent list price this week. The county’s lower “sold-to-original-list” figure of 86.9% is skewed by a single home that sold for far less than its original 2025 asking price after nearly nine months on the market.
How long are homes taking to sell in Richmond and Berea?
Berea homes sold in a median of 26 days this week; Richmond homes took a median of 52 days. Well-priced homes are still moving quickly — the long averages come from a handful of listings that were overpriced and sat for many months before selling or expiring.
Is now a good time to sell a home in Madison County?
For a home priced in line with the market, yes — buyers are active, cash is strong, and out-of-county demand is steady. The risk is overpricing: this week’s data shows that homes priced well above the market tend to sit for months and then sell at a steep discount. A local pricing analysis is the best way to land in the right range.
The bottom line
Madison County’s market this week was healthier than the headline sold-to-original number suggests — one mispriced luxury home is doing almost all of the distortion, while normally priced homes sold within a few points of list. The lesson for sellers is the same one it always is here: price it right and the market rewards you.
If you’re thinking about buying or selling in Berea, Richmond, or anywhere in Madison County and want to know what these numbers mean for your specific home, I’m always happy to talk it through. Reach out anytime at toddky.com/contact, call or text me at (859) 200-6513, or email Devin@ToddKY.com.
About Devin Todd Azbill, REALTOR®
Devin Todd Azbill, REALTOR® — Todd & Company (Todd & Company KY LLC), brokered by Berkshire Hathaway HomeServices Foster Realtors. She is a lifelong Berea, Kentucky resident with more than 100 closed transactions and $21M+ in career sales volume, and holds the ABR, SRES, PSA, e-PRO, and AHWD designations. 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.
