January —December 2021 compared to January — December 2020
KEY RESIDENTIAL MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 206 transactions in 2021 compared to 176 in 2020, an increase of 17%. |
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AVERAGE HOME SALES PRICE | The average home sales price increased 23% to $421,499 from $342,663. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 43 compared to 96, a decrease of 55%. |
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ACTIVE RESIDENTIAL LISTINGS | There was a monthly average of 73 homes on the market in 2021 compared to 75 in 2020, a decrease of 3%. |
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SALES PRICE TO LIST PRICE | On average, homes sold for 98.7% of the list price as compared to 95.7%, an increase of 3%. |
Fifty-six homes sold in the 4th quarter of 2021 compared to 30 in the 4th quarter of 2020.
There are currently 50 residential properties for sale which is about a 4-month supply. The active listings have an average days on market of 91. The average list price of homes currently on the market is $502,090.
| 2020 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY | 2021 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY |
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Madison Land & Farm Sales
January —December 2021 compared to January — December 2020
KEY LAND AND FARM MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 119 transactions in 2021 compared to 101 in 2020, an increase of 18%. |
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AVERAGE PRICE PER ACRE | The price per acre for raw land over 25 acres increased 49% from $4,400 to $6,544. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 351 compared to 259, an increase of 35%. |
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ACTIVE LAND LISTINGS | There was an average of 91 properties on the market every month compared to 117 in 2020. |
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SALES PRICE TO LIST PRICE | Land and farms sold for 94.8% of the list price as compared to 90.8% in 2020, an increase of 4%. |
Sixteen properties sold in the 4th quarter of 2021 compared to 36 properties in the 4th quarter of 2020.
There are currently 55 properties for sale which is about a 9-month supply. The properties currently on the market have an average days on market of 536.
| 2020 LAND & FARM TRANSACTIONS BY ACREAGE | 2021 LAND & FARM TRANSACTIONS BY ACREAGE |
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To see a complete listing of everything that sold in Madison County this year (by quarter), please click on one of the links below:
View the entire 2021 Market Trends Report.
View the 2020 Market Trends Report.
View the 2019 Market Trends Report.
