With only 0.7 months of inventory, Madison Heights remains a seller's market. Home prices have decreased 7.1% in the past month. At the current pace, all available homes in Madison Heights would sell out in just 0.7 months, indicating a continued supply shortage. Homes are taking about 26 days to sell, which is 5 days longer than this time last year. A significant 43.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 21.9% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Madison Heights market with the affordability index at 30.2. Based on current market indicators, home prices in Madison Heights are projected to decrease by approximately 7.2% over the next month.