Madison, NJ Home Values & Market Trends
Real estate market trends reflect that there have been 182 transactions over the past year in Madison. The median value for residential home transactions that occurred over the previous year is $924,838.64. The number of current listings in Madison is 14, and the percentage of properties for sale in the city is 14.00%. Madison, NJ currently has 14 properties in foreclosure, 0 bank owned properties, 2 properties headed for auction, and 14 properties for sale.
Madison, NJ Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 07940 | $ 987,200 $ 449/sqft |
Housing Market Summary for Madison, NJ
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $1.4M | $872.7K | -39.81% |
| Median Sold Price | $820.3K | $872.7K | 6.39% |
| Homes For Sale | 25 | 10 | -60.00% |
| Homes Sold | 90 | 74 | -17.78% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Madison, NJ
Browse Homes in Madison, NJ
Madison home values range from $237,500 to $1,693,000. The median estimated value of a home in Madison is $924,838.64. The median list price of a home is 1,460,000, and the total count of properties in the city is 4,318.
- Pre-ForeclosurePre-foreclosure homes account for 0.28% of all residential properties in Madison, NJ with 07940 containing 12 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Madison, NJ; of that zips, the estimated home value for pre-foreclosure homes ranges from $1,460,000 in 07940 to the lowest home value of $715,800 in 07940.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Madison, NJ ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Madison, NJ. There is 1 zips within Madison, NJ; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions07940 has 2 auction properties, the highest number of properties going to auction in a single zip in the state of Madison, NJ. Auction homes and other auction properties account for 0.05% of all properties in Madison, NJ. There is 1 zips within Madison, NJ; of that zips, the median estimated home value for homes going to auction ranges from $1,109,000 in 07940 to the lowest value of $883,700 in 07940.
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Guide for Madison, NJ
Madison’s real estate market continues to robustness, with varied trends across different market segments.
The Newark real estate market from 2023 to 2024 exhibited a strong upward growth pattern, with slight fluctuations in property values and sale price per square foot.
The Jersey City real estate market continues to show robust growth with prices rising to an average of $595,000 per property and $394 per square foot in February 2024.
Information on foreclosure financing, refinancing, and foreclosure mortgages.