Madison County Real Estate Statistics

Madison Available Homes

Properties in Active status are available for sale and have no ratified contracts pending.

 Madison Days On Market

Days on Market is a calculation based upon the number of days a property is for sale. It is calculated based upon the property and accumulates between listings. Days on Market is calculated from the date when a property first comes on the market (list date) to the time it is taken off the market due to a sale (contract date) or off market condition (off market date). If a property changes between Active and other statuses during the life of the listing(s), the cumulative on market time is tracked.

 Madison Median Sale Price

Median is the middle value of the dataset. The Average Sales Price is the sum of the total sales dollar volume divided by the total number of units sold. The Median Sales Price is the Sales Price at which half of all sales are above and half are the sales are below. Sometimes the Median Sales Price is a better indication of the market than the Average Sales Price, especially when a few sales may distort the Average Sales Price. Example: Ten sales are in an area. One was for $1,000,000 and nine were for $250,000. The Average Sales Price would be $325,000 and the Median Sales Price would be $250,000.

 Madison New Listings

New listings represents the number of new properties placed for sale during the time period.

Madison New Contracts

New Pendings is a count of listings that changed to either Contingent or Under Contract during the month (New Pendings=New Under Contracts + New Contingents). The value may be lower due to listings that were Pending more than once. A listing that was Pending more than one time in its life will only be counted once as Pending. 

 Madison Average Original List Price to Sold Price

This represents the average of the ratios for the gross sales price to the original list price for individual listings. Uses the Average of the Ratios

Scenario:
Listing A: List Price = 100,000; Sold Price = 90,000; Ratio = 90%
Listing B: List Price = 200,000; Sold Price = 150,000; Ratio = 75%
Listing C: List Price = 1,000,000; Sold Price = 700,000; Ratio = 70%

((90+75+70)/3) = 78.3%

Madison Sold Homes

Solds represents the number of units sold (closed) for the time period indicated. 

Madison Total Homes Under Contract

Pending properties are when a contract has been submitted and is ratified or in the process of being ratified. It includes the statuses of Contingent w/ Kickout, Contingent w/o Kickout and Contract