January — June 2021 compared to January — June 2020
KEY RESIDENTIAL MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 97 transactions in 2021 compared to 70 in 2020, an increase of 39%. |
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AVERAGE HOME SALES PRICE | The average home sales price increased 32% to $436,943 from $331,838. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 127 compared to 50, a decrease of 60%. |
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ACTIVE RESIDENTIAL LISTINGS | There was a monthly average of 66 homes on the market in 2021 compared to 70 in 2020, a decrease of 5%. |
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SALES PRICE TO LIST PRICE | On average, homes sold for 98.4% of the list price as compared to 90.5%, an increase of 9%. |
Sixty-three homes sold in the 2nd quarter of 2021 compared to 32 in the 2nd quarter of 2020.
There are currently 74 residential properties for sale which is about a 8-month supply. The active listings have an average days on market of 74. The average list price of homes currently on the market is $442,785.
| 2020 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY | 2021 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY |
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Madison Land & Farm Sales
January — June 2021 compared to January — June 2020
KEY LAND AND FARM MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 82 transactions in 2021 compared to 36 in 2020, an increase of 128%. |
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AVERAGE PRICE PER ACRE | The price per acre for raw land over 25 acres increased 53% from $4,193 to $6,417. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 398 compared to 260, an increase of 53%. |
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ACTIVE LAND LISTINGS | There was an average of 93 properties on the market every month compared to 120 in 2020. |
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SALES PRICE TO LIST PRICE | Land and farms sold for 95% of the list price as compared to 88% in 2020, an increase of 8%. |
Twenty-nine properties sold in the 2nd quarter of 2021 compared to 20 properties in the 2nd quarter of 2020.
There are currently 73 properties for sale which is about a 18-month supply. The properties currently on the market have an average days on market of 520.
| 2020 LAND & FARM TRANSACTIONS BY ACREAGE | 2021 LAND & FARM TRANSACTIONS BY ACREAGE |
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