Report: January the best month to buy a house in Madison

According to a recently released report from Construction Coverage looking at the best and worst months to buy a home in different locations throughout the U.S., the best month to buy a home in Madison is January, where prices are an average of 13.2% lower than the most expensive month (July). Typically across the nation, home prices peak in the summer months and reach their lowest levels mid-winter. The seasonal difference in price between the most and least expensive months is just over 11% nationally. However, in certain locations, this seasonal change can exceed 40%, creating excellent opportunities for buyers.

Summary of the data for the Madison area:

  • Median home sale price seasonal change (2015–2019 average): -13.2%;
  • Total days on market seasonal change (2015–2019 average): +66.5%;
  • Month for highest median home sale price (2015–2019 average): July;
  • Month for lowest median home sale price (2015–2019 average): January; and
  • Median home sale price (current): $382,000.

Statistics for the entire United States:

  • Median home sale price seasonal change (2015–2019 average): -11.2%;
  • Total days on market seasonal change (2015–2019 average): +69.3%;
  • Month for highest median home sale price (2015–2019 average): June;
  • Month for lowest median home sale price (2015–2019 average): February; and
  • Median home sale price (current): $428,379.