The housing market in Madison continues to see strong price appreciation, with values up 45.0% compared to last year. Home prices have increased 37.8% in the past month alone. With 3.1 months of supply, Madison's inventory levels remain relatively tight. Homes are now taking an average of 38 days to sell, significantly longer than the 22 days typical for this market. A significant 22.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 10.3% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Madison market with the affordability index at 102.1. Based on current market indicators, home prices in Madison are projected to decrease by approximately 10.8% over the next month.