“How’s the Madison County KY real estate market” you say?
The short version: 102 single-family homes closed in Madison County in October at a median of $291,000 in 26 days, with sellers getting 96.2% of their original list price. But 74 other listings expired, were withdrawn or were cancelled without selling. That’s 58% sold and 42% not. The sellers who sold priced right and moved fast. The ones who didn’t asked about $40,000 more and sat three times as long.
October 2026 by the numbers
| Measure | Madison County |
|---|---|
| Homes closed | 102 |
| Median sold price | $291,000 |
| Median price per sq ft | $170.80 |
| Median days on market | 26 (average 40) |
| Sold-to-original list price | 96.2% |
Resale vs. new construction: why it matters
Blended numbers hide what’s happening, so I always split them.
| Measure | Resale | New construction |
|---|---|---|
| Closed | 80 | 22 |
| Median price | $287,750 | $313,990 |
| Median days on market | 22 | 43.5 |
| Sold-to-original | 96.1% | 96.5% |
New homes cost more per square foot ($195.50 vs $162.50) and took about twice as long to sell. After counting price cuts, builders and resale sellers ended up in nearly the same place on price. If you’re buying new, you likely have more room to negotiate than the sticker price suggests. If you’re selling a resale home, you aren’t losing the race to builders.
Berea vs. Richmond
| Measure | Berea | Richmond |
|---|---|---|
| Homes closed | 35 | 65 |
| Median sold price | $254,900 | $321,000 |
| Median price per sq ft | $189.20 | $159.90 |
| Median days on market | 22 | 28 |
| Sold-to-list | 99.8% | 98.0% |
| Sold-to-original | 97.8% | 95.6% |
Berea was the tighter market, with sellers getting nearly full list price. Richmond is the volume market, with a luxury tail: all five sales at $700,000 or more were in Richmond.
Who’s buying?
- 31% of buyers (of those reported) came from outside Madison County; 16% from out of state
- 29% were first-time buyers
- 46% used conventional loans; 15% FHA, 15% VA, 14% paid cash
- 35% of sellers paid some of the buyer’s closing costs
- 48 of 101 priced sales closed at or above list price
Notable homes
- Highest sale: 201 Ava Drive, Richmond — $820,000. Custom 6,000+ sq ft home on 7 acres, 2.5 miles from EKU.
- Coolest property: 413 Hackett Pike, Richmond — $700,000. Seven-stall horse barn, heated workshop and 7.9 acres.
- Berea standout: 1100 Pauley Court — $515,000. A 2025 barndominium on 1.8 acres near I-75.
- Fast and full price: 1313 Travis Drive, Richmond — $450,000 at full price with zero days on market.
- Longest wait: 100 South Court A, Richmond — 197 days and an 18% cut from the original $425,000.
The other half of the market: what didn’t sell
| Segment | Sold | Expired / withdrawn / cancelled | Share that sold |
|---|---|---|---|
| Madison County | 102 | 74 (21 / 10 / 43) | 58% |
| Berea | 35 | 18 | 66% |
| Richmond | 65 | 54 | 55% |
| Resale | 80 | 51 | 61% |
| New construction | 22 | 23 | 49% |
A few of those 74 are the same house relisted, so the cleaned count is 70 unsold and 59% sold.
What separated the two groups?
- Price: unsold listings asked a median of about $331,000. Homes that sold closed at $291,000.
- Time: unsold listings sat a median of 77 days (expired ones, 138). Sold homes closed in 26.
- Price cuts: 61% of the unsold had already cut their price, by an average of 3.6%. Small, late cuts didn’t rescue them.
- The $300–400K band: 29 listings came off unsold and only 25 sold there. Under $300,000, 71% of resolved listings sold.
What it means for sellers: price to the market on day one. Half of the homes that sold closed within 26 days.
What it means for buyers: you aren’t competing with a stampede. 432 homes are active and 104 are under contract. Expired and cancelled listings are worth a look, since those sellers have already been through one failed listing.
What’s ahead
There are 432 active single-family listings in Madison County (107 in Berea, 311 in Richmond) and 104 under contract. That’s about 4.2 months of supply, a balanced market that leans slightly toward buyers. Expect November and December closings to look similar to October, with typical holiday slowing.
What this means for you
- Sellers: Price to the market on day one. Resale homes sold in a median of 22 days; if you pass 30 days, adjust.
- Buyers: You have room to negotiate, and one in three sellers helped with closing costs. Get pre-approved, since cash buyers are about 1 in 7.
- Relocating? Almost a third of this month’s buyers moved in from outside the county.
Want to know what your home is worth?
Call or text Devin Todd Azbill at (859) 200-6513, email Devin@ToddKY.com, or request a free home valuation.
More market updates: toddky.com/blog
Source: Flexmls MLS, single-family closed sales 10/1/2026–10/31/2026, plus expired, withdrawn and cancelled listings with a status change in October, Madison County, KY. Based on data reported to the MLS; not all fields reported on every sale. One closing without a reported price excluded from price statistics.
Devin Todd Azbill, REALTOR® • Todd & Company • Berkshire Hathaway HomeServices Foster Realtors
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