Madison County’s average home sold for a higher price than last year
The median sales price for a single-family home in Madison County during July was $305,000. That’s an increase of 1% compared with July 2020, according to data from Realtor.com.
The number of houses sold fell by 21.9% from a year earlier. A total of 150 houses were sold county-wide during the month of July. During the same period a year earlier, 192 single-family homes were sold.
Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.
Condominiums and town homes sold in July had a median sales price of $114,046. That figure represents a 68.3% decrease year-over-year. In Madison County, one were sold, similar to a year earlier.
How hot is Madison County’s real estate market in Mississippi?
Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.
The top 10% of the properties sold had prices of at least $666,875, up 17.5% from a year before.
In July, two properties sold for $1 million or more: two single-family homes.
The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.