Methodist Episcopal Church · Photo: Josconklin · CC BY-SA 3.0255 homes sold in Madison in the last year, at a typical $957K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Madison homes are listed.
Every place Madison homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Madison.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
4% of Madison’s sales are condos, at $139K less than a house
238 houses and 11 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 238 sold in 12 months
- Per square foot
- $438NJ $331
- Days to sell
- 31
- Sold over asking
- 63%
- Listings with a price cut
- 13%
typical sale · 11 sold in 12 months
- Per square foot
- $381NJ $450
- Days to sell
- 151
- Sold over asking
- 55%
Multi-family (2–4 units): 6 sold, typical $1.4M
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2021, at 1.7 times the 2016 price
255 sales in the last year, against 422 in 2020 and a low of 251 in 2025. The typical sale went from $571K in 2016 to $957K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $950K buys in Madison
Check a listing against what Madison homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Madison are more common than before the pandemic, but 79% fewer homes come up for sale
We read every month of Madison’s home sales since 2016 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 255 sales.
If you’re buying in Madison
- Shop in March. It brings about 44 new listings a month, close to the busiest month, with fewer bidding wars (28% over asking).
- Some room to negotiate. 13% of listings cut their price, about as many as before the pandemic.
- Expect to bid over asking. Buyers paid 104.7% of the list price on average; 62% paid over.
- You’ll usually have time. Only 42% of homes go under contract within two weeks; the typical one takes 31 days.
Spring brings the homes; summer brings the bidding wars
May has the most new listings (about 49 a month), but June is the most competitive: 39% of June sales close over asking. March offers nearly as much choice with fewer homes bid up (28%). January has the least competition (19%) but only about 23 new listings.
Averages for each calendar month, 2015 on.
Hotter than in 2021, and hotter than New Jersey
| Madison now | 2017–19 | 2021 peak | NJ now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 62% | 13% | 42% | 48% |
| Gone within two weeksShare of homes under contract within 14 days | 42% | 6% | 26% | 31% |
| Listings with a price cutShare of homes for sale that cut their price | 13% | 16% | 12% | 17% |
| Price paid vs. askingAverage sale price ÷ list price | 104.7% | 96.8% | 100% | 101.2% |
| Days to sellMedian days from listing to contract | 31 | 103 | 71 | 45 |
37 homes for sale on a typical day
That’s 79% fewer than in 2017–19 and well under 2018’s 185.
1 in 8 listings has cut its price
13% in the last year, against 16% in 2017–19 and 17% across New Jersey.
Since 2019, houses are up 66%, condos 222%
A house typically sold for $985K in the last year (238 sales), a condo for $846K (11).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Madison ranks 84th of 299 busy New Jersey markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Madison is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2016 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Five things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 10.
Best time to buySchools
The schools grade for Madison, from test results, graduation and how much students grow.
Schools in MadisonCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Whippany sells for less a square foot; Chatham and Summit for far more
The busier markets within 25 miles of Madison, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Madison | 255 | $957K | $427 | 62% | 31 |
| Summit | 223 | $1.5M | $708 | 69% | 15 |
| New Providence | 129 | $1.1M | $523 | 71% | 16 |
| Morristown | 121 | $708K | $433 | 67% | 24 |
| Florham Park | 116 | $1M | $474 | 66% | 24 |
| Chatham | 93 | $1.3M | $713 | 80% | 18 |
| Whippany | 91 | $721K | $409 | 58% | 25 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Madison, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Madison. People who follow the town see it, and so do people comparing Madison with their own town. No commission, no listing fee.
Questions about buying a home in Madison
What do homes sell for in Madison, NJ?
255 homes sold in the year to May 2026 at a typical $957K, $427 a square foot. Houses sold for about $985K, condos for about $846K.
Is Madison a buyer’s or seller’s market?
A seller’s market: 40 homes were for sale in May 2026 and 24 sold, about 1.7 months of supply. Buyers paid 104.7% of asking on average, and 13% of listings cut their price.
When is the best time to buy in Madison?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
Where can I see homes for sale in Madison?
Zillow, Redfin, Realtor.com and Homes.com all carry Madison’s MLS listings; the search links above open each one filtered to Madison.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).