Sales

Continued at record levels, but below Q4 of last year

Supply

Only 15 days of supply available for $150k-$200k

Sales Price

Median has increased from the same period last year 

$350k Homes

365 homes sold at that pricepoint in Q1

2020-econ-report-1200x630-graphic_update

“Supply & Price” Drive Local Market in First Quarter

The residential real estate market in Madison County in the first quarter 2020 can be described in two words—Supply and Price.  Demand continued to be strong through the end of March unlike many other sectors of the economy.  The supply of homes did not grow as fast as demand which resulted in an increase in prices especially in the $200,000 to $300,000 range.  The number of homes above $350,000 saw the largest sales increase (137) as well as the largest drop in supply (300).

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