From January through June of 2018, there were 2,929 homes sold, with a median sale price of $247,900 - a 7.5% increase over the $230,643 median sale price for the same period of the previous year. There were 3,016 homes sold in Madison in the first half of 2017.
The median sales tax in Madison for 2018 was $5,191. In 2017, the median sales tax was $5,028. This marks an increase of 3.2%. 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 first half of 2018:
| City | Jan. - June 2018 Home Sales | Jan. - June 2017 Home Sales | % change (Total Home Sales) | Jan. - June 2018 Median Sales Price | Jan. - June 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Fitchburg | 369 | 324 | 13.9% | $279,900 | $265,000 | 5.6% |
| Verona | 199 | 188 | 5.9% | $271,000 | $280,650 | -3.4% |
| Oregon | 149 | 197 | -24.4% | $253,500 | $223,900 | 13.2% |
| DeForest | 176 | 184 | -4.3% | $253,000 | $220,700 | 14.6% |
| Cottage Grove | 90 | 67 | 34.3% | $252,500 | $248,000 | 1.8% |
| Madison | 2,929 | 3,016 | -2.9% | $247,900 | $230,642.50 | 7.5% |
| Windsor | 164 | 161 | 1.9% | $247,500 | $237,000 | 4.4% |
| Sun Prairie | 447 | 466 | -4.1% | $240,000 | $219,950 | 9.1% |
| Mount Horeb | 118 | 112 | 5.4% | $231,750 | $225,000 | 3% |
| Cross Plains | 37 | 48 | -22.9% | $230,400 | $238,650 | -3.5% |
| Deerfield | 35 | 41 | -14.6% | $210,000 | $160,000 | 31.3% |
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