How is the Madison County, KY housing market doing right now?
Madison County, KY saw 23 homes sell the week of October 19–25, 2026, at a median price of $285,000 and an average of 46 days on market. Overall, homes sold for 93% of their original list price, but that average hides a split: homes that sold in 30 days or less closed at about 97% of original list, while homes that sat 60 days or longer closed at about 88%. The takeaway for sellers in Richmond and Berea is that your starting price matters more than the week’s headline number.
By Devin Todd Azbill, REALTOR® | October 26, 2026
Here’s the part of this week’s numbers I’d want you to see before anything else: the 93% sold-to-original-list-price figure isn’t telling you the market is soft. It’s averaging two very different groups of homes together. Let’s break it down.
This week’s numbers (October 19–25, 2026)
| New Listings | Sold Listings | Median Sold Price | Avg. Days on Market | Sold to Original List |
|---|---|---|---|---|
| 31 | 23 | $285,000 | 46 | 93.1% |
A quick note on those 31 new listings: that count includes homes that came back on the market, not just brand-new ones. I’d put truly new inventory closer to 25.
Why the 93% number is really two markets
When I split the 23 closings by how long each home sat before it sold, the story changes completely:
- Sold in 30 days or less (11 homes): closed at about 97% of original list price.
- Sold in 31–59 days (5 homes): closed at about 92%.
- Sat 60 days or longer (7 homes): closed at about 88%.
Same county. Same week. Nine points between the fastest and slowest group. That’s the difference between “the market is softening” and “the first price was wrong.” Seventeen of the 23 homes sold below their original list price, and seven sold more than 10% below it. Six of those seven had already cut their asking price before closing.
If you’re thinking about selling, this is the number I walk my clients through before we ever list. The first two weeks on the market are when you get the most buyer attention, and a price that’s right on day one usually beats a price you have to fix on day sixty. Your specific number depends on your home’s condition, location, and timing — that’s where a local market analysis comes in.
Richmond vs. Berea
| Richmond | Berea | |
|---|---|---|
| Closed sales | 11 | 10 |
| Median sold price | $290,000 | $276,000 |
| Median days on market | 34 | 36 |
| Sold to original list | 92.7% | 93.3% |
| New to market | 23 | 7 |
| Went under contract | 14 | 7 |
The two cities closed at nearly the same percentage of original list, but Richmond had more than three times as many new listings. Richmond’s average sold price ($339,499) is pulled up by one $729,000 closing, so the median is the better number to watch.
New construction vs. resale
Builders hold price. New construction closed at about 96.7% of original list while resale closed at about 92.6%, but new construction took longer: roughly 81 days on average, compared with about 41 for resale. Only three new-construction homes closed this week, so don’t read too much into it, but if you’re selling a resale home, don’t use a builder’s price per square foot ($209 this week) as your benchmark. Resale came in at $145.
Who’s buying and how
- Financing: 12 conventional, 5 FHA, 3 cash, and 3 other.
- First-time buyers: 5 of the 23 closings.
- Berea: 3 of 10 closings went to buyers from outside Madison County, and 2 of those buyers were from out of state.
- Richmond: 4 of 11 sellers moved out of the county after selling.
Location data wasn’t recorded on 4 of the 23 closings, so I’m sharing counts rather than percentages.
What came off the market without selling
Eight listings left the market without a sale this week, and it helps to separate them, because they mean different things.
- Expired (4): three of these were units at a single address in Berea (844 Ridgewood Drive), each with 242 days on the market. That’s one stalled project, not three sellers. The fourth was a new-construction home in Richmond with 187 days on the market after a roughly 6.6% price cut.
- Cancelled (4), all in Richmond: these had a median of about 82 days on the market and had been cut only about 2% on average from their original price. A cancellation is often a reset (repricing or relisting) rather than a failure, so I’ll be watching to see if any come back.
- Withdrawn (0).
The pattern is the same one from the closed sales: homes that start priced to the market get attention fast, and homes that don’t spend months catching up.
The takeaway
One week isn’t a trend, and 23 closings is a small sample. What it does show is that the headline average hides how much the first price matters in Madison County. If you’re buying, that’s useful because well-priced homes move quickly while homes that have sat leave more room to negotiate. If you’re selling, it means your starting price is the biggest decision you’ll make.
Frequently Asked Questions
What is the median home price in Madison County, KY right now?
For the week of October 19–25, 2026, the median sold price in Madison County was $285,000 across 23 closings. Richmond’s median was $290,000 and Berea’s was $276,000. One week is a small sample, so use it as a snapshot, not a trend.
Are Madison County homes selling for less than asking price?
Most are. Seventeen of the 23 homes that closed this week sold below their original list price, but homes that sold within 30 days closed at about 97% of original list. The bigger discounts went to homes that sat 60 days or longer.
How long does it take to sell a home in Madison County, KY?
The average closed home this week had 46 days on market, and the median was 34 days. Resale homes averaged about 41 days; new construction averaged about 81.
Why do some Berea and Richmond listings expire without selling?
Usually it comes down to price and timing. This week, four listings expired and four were cancelled. Three of the four expirations were units at a single Berea address, which is one stalled project rather than three separate sellers misreading the market.
Ready to see what your home is worth in today’s Richmond and Berea market? I’d love to put together a no-pressure analysis for you. Start here: toddky.com/selling. You can also reach me directly at (859) 200-6513 or Devin@ToddKY.com, or use the contact page at toddky.com/contact.
Source: Flexmls, Madison County, KY residential status changes Oct 19–25, 2026, pulled the morning of October 26, 2026. Numbers can change as late-posting status updates are entered.
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, 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. Contact: (859) 200-6513 / Devin@ToddKY.com.