Madison's Housing Market Soars: A 9.1% Price Increase, Top 5 Luxury Homes Sold, and Migration Trends Unveiled

Madison Housing Market Trends in November

In November 2023, Madison home prices were up 9.1% compared to last year, selling for a median price of $400,000. On average, homes in Madison sell after 42 days on the market compared to 42 days last year. There were 63 homes sold in November this year, down from 66 last year.

Madison Migration & Relocation Trends

In Sep '23 - Nov '23, 38% of Madison homebuyers searched to move out of Madison, while 62% looked to stay within the metropolitan area.

Photo by Redfin

Where are people moving to Madison from?

• Across the nation, 0.21% of homebuyers searched to move into Madison from outside metros.
• Birmingham homebuyers searched to move into Madison more than any other metro followed by Anniston and Washington.

Where are people from Madison moving to?

• 62% of Madison homebuyers searched to stay within the Madison metropolitan area.
• Cleveland was the most popular destination among Madison homebuyers followed by Columbus and Panama City.

Top 5 Most Expensive Homes Sold in Madison in the Last Month

1. 164 Steiner St, Madison, AL, 35756

Photo by Redfin

• Sold on DEC 1, 2023 for $471,500,000
• 3 Beds, 3 Baths, 2493 Sq Ft
• Description: Open floorplan house with private courtyard, spacious kitchen, isolated master suite, guest suite, third bedroom, bonus room, and two-car garage. Features multiple architectural styles. More details here.

2. 102 Belle Ridge Dr, Madison, AL, 35758

Photo by Redfin

• Sold on DEC 1, 2023 for $1,400,000
• 5 Beds, 5 Baths, 5114 Sq Ft
• Description: Custom built 5 bed 6 bath home with open-concept, modern kitchen, tranquil master with ensuite bathroom, and over 200k in custom finishes. Includes butlers pantry, safe room, secret room, loft, and more. More details here.

3. 112 Hidden Springs Ct, Madison, AL, 35758

Photo by Redfin

• Sold on DEC 1, 2023 for $1,025,000
• 4 Beds, 4 Baths, 5569 Sq Ft
• Description: Custom built home adjacent to Rainbow Mountain Land Trust. Features 12' ceilings, dining room, great room with fireplace, spacious owner's suite, gourmet kitchen, theatre, safe room, 3 car garage, sun room, and study. More details here.

4. 01 Wall Triana Hwy, Madison, AL, 35757

Photo by Redfin

• Sold on DEC 11, 2023 for $980,000
• 0 Beds, 0 Baths, 0 Sq Ft
• Description: Acreage surrounded by new homes, perfect for commercial use. High traffic count and visibility. Includes power, sewer, and is in Huntsville city limits. Commercially zoned. More details here.

5. 200 Mable Trce, Madison, AL, 35756

Photo by Redfin

• Sold on DEC 19, 2023 for $776,066
• 5 Beds, 4 Baths, 3740 Sq Ft
• Description: Under construction 5 bedroom house with game room, 10' ceilings, formal dining room, quartz counters, double oven, gas cooktop, main level master suite, and 3 car garage. Located in Madison City Schools district. More details here.

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