What Happened in the Madison County, KY Housing Market Between October 26 and November 1, 2026?
Madison County closed 32 homes this week at a median sold price of $301,495, with the average home taking 38 days to sell and selling for 98.0% of its original list price. The headline story is in the cancellations: 12 of the 18 listings that were cancelled were not failed sales at all — they were the same houses relisted within days, mostly by builders resetting their listings.
By Devin Todd Azbill, REALTOR® | November 2, 2026
Here’s the number that would have fooled you if you only read the raw counts: 18 cancellations looks like sellers giving up. It isn’t. Look at each address and you’ll find the house back on the market the same week — often at the same price, sometimes $7,000 to $10,000 lower. Builders do this to reset days on market and adjust price. If you’re selling a resale home in Richmond or Berea, you need to know the difference before you read anything into the headline.
The numbers below run Monday, October 26 through Sunday, November 1, 2026, captured late on Sunday. A few late-weekend status changes may still post, so treat the totals as a snapshot of the week as it stood. For context, compare this to last week’s Madison County market update (October 19–25) and the week of October 12–18.
This week’s numbers
| Stat | Madison County |
|---|---|
| New listings | 56 (44 after removing 12 relists) |
| Sold listings | 32 |
| Median sold price | $301,495 |
| Average days on market | 38 (median: 22) |
| Sold-to-original list price | 98.0% |
| Went under contract (Pending + Contingent) | 22 |
“Sold to original list price” compares what homes sold for against what they were first listed for, added up across every closing. Anything under 100% means buyers negotiated below the starting price; over 100% means someone paid more than the original ask.
The relist story, explained
Of the 18 cancellations, 12 reappeared as new listings at the same address within the same week. Ten were new construction — Lexwood Lane, Cabela Drive, Wolverine Way, Carhartt Drive, Choctaw Trail, and Lands End Drive among them. Six came back with a price cut between $7,000 and $10,000, four returned at the same price, and two went up. The same thing happened with two resale properties, including a Berea acreage listing that came back $21,500 higher.
That leaves six true cancellations, all resale homes, and every one of them had already cut its price before coming off the market — by between 5% and 17%. Add the six expirations and one withdrawal, and the honest count of listings that came off the market without selling is 13, not 25.
The same caution applies to new listings. The 56 figure counts every new status event, including those 12 relists, so the number of genuinely new homes hitting the market is closer to 44.
Richmond vs. Berea
| Richmond | Berea | |
|---|---|---|
| Homes sold | 22 | 10 |
| Median sold price | $312,990 | $250,400 |
| Average days on market | 39 | 37 (resale only: 12) |
| Sold-to-original list | 96.0% | 103.6% |
| Resale median sold price | $302,000 | $257,500 |
Berea’s 103.6% looks like a hot market, and one sale explains most of it. A property on Pauley Court in the Big Oak area closed at $515,000 against a $399,000 list price — about $116,000 over. The same address also shows a separate 23-acre listing at $819,000 that expired this week, which tells you the land and house were split into two listings. Take that one sale out and Berea’s number is 99.4%. Richmond has an offsetting oddity: one new-construction home on Turner Ridge Road sold at exactly 80% of its original $699,000 list price after 133 days. Remove both and the county figure barely moves — 98.0% either way — which is the point. Two unusual sales cancelled each other out.
Resale vs. new construction
Blending new construction into one median is misleading for anyone selling an existing home, so here are the two side by side.
| Resale | New construction | |
|---|---|---|
| Homes sold | 24 | 8 |
| Median sold price | $284,000 | $312,990 |
| Average days on market | 28 | 70 |
| Sold-to-original list | 99.2% | 94.5% |
Resale homes that sold this week sold fast — a median of 19 days — and close to what sellers first asked. New construction sat more than twice as long and sold further below the original price. If you’re pricing an existing home, the 99.2% resale number is the one to use.
Who bought
- First-time buyers: 11 of 32 sales (34%), including 5 of the 8 new-construction closings.
- Out-of-county buyers: 7 of 32 (22%), with 4 coming from out of state.
- Financing: 18 conventional, 5 VA, 3 FHA, 2 cash, and 4 other. Cash buyers made up just 6% of sales.
- Sellers who left the county: 8 of 32 (25%).
Listings that came off the market without selling
Expired, withdrawn, and cancelled mean different things, so they’re counted separately here.
- Expired (6): the listing agreement ran out. Richmond had 3, including two new-construction homes on Mohegan Trail that sat 178 and 198 days with price cuts of about 2%. Berea had 3, with an average cut of 2.4%.
- Withdrawn (1): a Richmond home pulled after 56 days. Withdrawn listings are temporarily off the market, which makes them worth a follow-up call in 30 days.
- Cancelled (18): 12 relists and 6 true cancellations, as described above.
The cities behaved differently on the true cancellations. In Richmond, four homes cut an average of about 9% before coming off the market. In Berea, two cut an average of 12%. Sellers in both places chased the market and still didn’t find a buyer at the lower number — which is different from the expired listings, where sellers cut only 2% to 3% and mostly never tested a meaningfully lower price.
What this means if you’re selling
The takeaway is simple: don’t read a cancellation count as a market verdict. This week, 12 of 18 cancellations were relists, resale homes that sold did so in under three weeks, and the buyers were a healthy mix of first-time and out-of-county. The homes that stalled were the ones priced above what the market would pay — not the ones priced to sell. If your home is sitting, read why a house isn’t selling in Berea and how presentation can hold a listing back. Your specific number depends on your home’s condition, location, and timing, and that’s where a local market analysis comes in.
Frequently Asked Questions
What is the median home price in Madison County, KY right now?
For the week of October 26 through November 1, 2026, the median sold price in Madison County was $301,495 across 32 closings. Resale homes had a median of $284,000, while new construction came in at $312,990.
How long does it take to sell a house in Madison County, KY?
The average closed home this week took 38 days, but the median was 22 days. Resale homes sold in a median of 19 days, while new construction averaged 70 days on market.
Does a cancelled listing mean the home didn’t sell?
Not always. This week, 12 of 18 cancelled listings in Madison County reappeared within days at the same address. Builders commonly cancel and relist to reset days on market or adjust the price, so a cancellation without a relist is the stronger signal of a stalled sale.
Are Madison County homes selling for less than asking price?
On average, closed homes sold for 98.0% of original list price and 100.4% of their final list price this week. Resale homes sold closer to the original price, at 99.2%, while new construction sold at 94.5%.
Are first-time buyers active in Richmond and Berea?
Yes. First-time buyers accounted for 11 of the 32 closings this week, or 34%, including 6 of the 10 closings in Berea and 5 of the 22 in Richmond, based on the MLS first-time-buyer field. If you’re new to buying, start with this first-home guide for Berea and Richmond.
If you have questions about what’s happening in the Madison County market, or you want to know what your home would net in today’s market, I’m always happy to chat. Reach out anytime at toddky.com/contact, call (859) 200-6513, or email Devin@ToddKY.com. Thinking about selling? Start here: toddky.com/selling.
About Devin Todd Azbill, REALTOR® — Todd & Company (Todd & Company KY LLC), brokered by Berkshire Hathaway HomeServices Foster Realtors
Devin Todd Azbill is a licensed REALTOR® 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.
Source: Flexmls MLS, Madison County, KY residential status changes dated October 26 – November 1, 2026 (135 records), captured late Sunday, November 1. Late status changes may post after capture. Figures are not guaranteed.
