From July through December of 2020, there were 3,343 homes sold, with a median sale price of $282,000 - a 6.2% increase over the $265,600 median sale price for the same period of the previous year. There were 3,147 homes sold in Madison in the second half of 2019.
The median sales tax in Madison for 2020 was $5,806. In 2019, the median sales tax was $5,538. This marks an increase of 4.8%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.1%.
The following table compares Madison to other Dane County cities with similar median sale prices in the second half of 2020:
| City | July - Dec. 2020 Home Sales | July - Dec. 2019 Home Sales | % change (Total Home Sales) | July - Dec. 2020 Median Sales Price | July - Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Cottage Grove | 116 | 106 | 9.4% | $311,250 | $296,500 | 5% |
| DeForest | 226 | 196 | 15.3% | $291,750 | $291,273 | 0.2% |
| Oregon | 197 | 194 | 1.5% | $286,500 | $269,300 | 6.4% |
| Sun Prairie | 590 | 510 | 15.7% | $286,250 | $255,500 | 12% |
| Cambridge | 38 | 37 | 2.7% | $285,750 | $175,000 | 63.3% |
| Madison | 3,343 | 3,147 | 6.2% | $282,000 | $265,600 | 6.2% |
| Mount Horeb | 120 | 119 | 0.8% | $281,250 | $255,000 | 10.3% |
| Cross Plains | 44 | 37 | 18.9% | $260,000 | $255,000 | 2% |
| Brooklyn | 16 | 15 | 6.7% | $252,450 | $275,000 | -8.2% |
| Stoughton | 206 | 190 | 8.4% | $242,000 | $234,400 | 3.2% |
| Marshall | 73 | 54 | 35.2% | $239,500 | $219,950 | 8.9% |
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