From January through June of 2020, there were 2,776 homes sold, with a median sale price of $283,900 - a 8.4% increase over the $262,000 median sale price for the same period of the previous year. There were 2,755 homes sold in Madison in the first 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%.
The following table compares Madison to other Dane County cities with similar median sale prices in the first half of 2020:
| City | Jan. - June 2020 Home Sales | Jan. - June 2019 Home Sales | % change (Total Home Sales) | Jan. - June 2020 Median Sales Price | Jan. - June 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Verona | 128 | 170 | -24.7% | $302,000 | $282,512 | 6.9% |
| DeForest | 162 | 198 | -18.2% | $299,950 | $241,750 | 24.1% |
| McFarland | 125 | 114 | 9.6% | $297,000 | $323,276.50 | -8.1% |
| Cottage Grove | 71 | 71 | 0% | $288,000 | $299,900 | -4% |
| Blue Mounds | 8 | 10 | -20% | $287,500 | $229,650 | 25.2% |
| Madison | 2,776 | 2,755 | 0.8% | $283,900 | $262,000 | 8.4% |
| Fitchburg | 312 | 347 | -10.1% | $280,550 | $300,000 | -6.5% |
| Cross Plains | 41 | 47 | -12.8% | $270,000 | $233,500 | 15.6% |
| Mount Horeb | 94 | 96 | -2.1% | $266,150 | $250,000 | 6.5% |
| Sun Prairie | 463 | 425 | 8.9% | $265,800 | $257,500 | 3.2% |
| Oregon | 161 | 130 | 23.8% | $263,755 | $231,000 | 14.2% |
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