$799K  
Over the last 30 days, the Madison County market showed healthy signs with 21 homes sold. It marks a 61.5% increase from last week's report, while also topping the average sales volume for the prior 12 months. At the same time, Louisa County reported 117 home sales, the highest number from all the surrounding counties. Pricing in Madison County remains consistent from last week to this week, with the median sales price at $225,000 again. Despite the uptick in sales, there are still 14 months of inventory left to work through, meaning Madison County is still a solid buyer's market.
Comments:

The population of Madison County is growing faster than the rest of Virginia, at a 10-year growth rate of 6.3%. It's a smaller-than-average county compared to the rest of the state, with 13,308 residents. 22701, 22960, and 22973 are the three largest zip codes in terms of population. Madison County is made up of homes that are relatively old with a median of 33 years. Heading the list of top schools in the county is Madison County High School.
Comments:

$123K  
Sales in the Madison County market hit their lowest level since May. For the prior 30-day period, there were 13 homes sold, a decrease of 18.8%. In comparison, Louisa County led all other nearby counties with 105 sales. Naturally, as sales reached a new low, the amount of available homes increased, reaching a volume of 21 months of inventory, its highest point since May. The downward trend in sales numbers and the high inventory indicate that Madison County is still a strong buyer's market.
Comments:

$175K  
The Madison County market pulled back with a 38.5% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 18.5 monthly average with 16 homes sold. Meanwhile, Orange County reported 90 home sales, the highest number from all the surrounding counties. The median sales price of all transactions in Madison County did not budge this week, remaining at $190,000. With decreasing sales and the availability of 18 months of inventory, Madison County is a strong buyer's market.
Comments:

$759K  
The Madison County market made gains this week as sales climbed 23.8% to hit 26 homes sold over the last 30 days. At the same time, Rockingham County reported 99 home sales, the highest number from all the surrounding counties. The median sales price climbed to $190,000 over the latest reporting period for Madison County, up from $187,000. Madison County is still a strong buyer's market, in spite of the uptick in sales, thanks to the availability of 10 months of remaining inventory.
Comments:

$124K  
Over the last 30 days, 24 homes went under contract in the Madison County market, the lowest amount since April. As the market appears to be softening, there were 21 homes sold over the same period. In comparison, Orange County had 119 contracts executed in the same time frame, the most of all nearby counties. As contracts reached a new low, prices have also been falling. The median sales price dropped to $187,000, extending a four-week long spiral. With a downward trend in contracts numbers and prices, and 12 months of inventory still left to work through, Madison County is a definite buyer's market.
Comments:

$4.2M  
The number of price cuts in the Madison County market climbed to 28 over the last 30 days, furthering a recent positive trend. Perhaps due to the decreases in list prices, sales increased to 27 homes sold. All indications show that the trend may be coming to an end, meaning less price reductions over the next few weeks. The median sales price climbed to $180,000, up from last week's $177,450. Madison County is still a definite buyer's market, due to the availability of 10 months of remaining inventory, even after the uptick in sales.
Comments:

Madison County is a county in Virginia, and is somewhat affluent with a median income of $49,470 per household. It's much younger than the rest of the state, with a median age of 44. Its three largest zip codes are 22701, 22960, and 22973. It should be noted that at 66.7%, most people own their homes in Madison County. Heading the list of top schools in the county is Madison County High School.
Comments:

$995K  
Over the last 30 days, the Madison County market was active with 21 homes sold. It marks a 23.5% increase from last week's report, while also topping the average sales volume for the prior 12 months. At the same time, Louisa County reported 107 home sales, the highest number from all the surrounding counties. Potential buyers should note that prices are coming down in Madison County, and for this period the median sales price slid from $199,900 to $180,000. Even after the uptick in sales, an elevated 12 months of inventory tells us that Madison County is still a definite buyer's market.
Comments:

$799K  
The Madison County market slowed with a 23.8% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 19.4 monthly average with 16 homes sold. Meanwhile, Louisa County reported 100 home sales, the highest number from all the surrounding counties. Prices are rising in Madison County, and the median sales price this period increased from $125,000 to $199,900. With decreasing sales and the availability of 17 months of inventory, Madison County is a definite buyer's market.
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Roy Wheeler Realty Co.
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