If you’re thinking about buying your first home in Madison County, KY, you’re not alone—and you’re in the right place to get the insights you need to make smart decisions. As a first-time buyer, understanding the local market can give you a huge advantage, especially in a competitive and ever-changing environment.
Here’s a quick look at where the Madison County real estate market stands right now:
📊 Key Market Stats – May 2025
- Average Sales Price: $359,609
- Average List-to-Sold Price Ratio: 98.87%
- Sold Listings: 25
- Average Days on Market: 70
- Homes Currently Under Contract: 38
- New Listings This Month: 35
🏡 What This Means for First-Time Buyers
1. Home Prices Are Holding Steady
With an average sales price of $359,609, prices are relatively stable in our area. If you’ve been waiting for the right time to jump in, this could be it. Rates and inventory may fluctuate, but getting in before prices increase further could save you money in the long run.
2. Homes Are Taking a Little Longer to Sell
The average home is sitting on the market for about 70 days. This gives buyers a bit more breathing room to explore options, schedule showings, and make informed decisions—something we haven’t always had the luxury of in past hot markets.
3. Listings Are Moving Close to Asking Price
Sellers are receiving nearly 99% of their asking price. As a buyer, this tells you that lowball offers may not get you very far, but with the right guidance, you can still negotiate smartly and confidently.
4. Inventory Is Limited, But Not Impossible
With 35 new listings and 38 homes currently under contract, there’s healthy movement in the market. Acting quickly and being pre-approved for a mortgage can help you compete effectively when the right home hits the market.
🤝 Tips for First-Time Homebuyers
- Get Pre-Approved: Knowing your budget before house hunting helps you move quickly when you find the right home.
- Work with a Local Realtor: A local expert (like me!) can guide you through the process, explain everything clearly, and help you avoid common pitfalls.
- Be Prepared to Act: While homes are sitting longer than last year, great homes in good locations still sell fast.
Ready to Buy Your First Home?
Whether you’re just starting to explore your options or you’re ready to begin house hunting, I’m here to walk you through every step of the journey. Let’s talk about your goals, your budget, and how we can find the perfect place to call home in Madison County.
📲 Schedule your free first-time buyer consultation today!