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Monday, November 25, 2024

Pricing for the median home in Madison increased during May 2020

Realestate1

The median sale price of a home sold in May 2020 in Madison rose by $28,200 while total sales decreased by 15.5%, according to BlockShopper.com.

In May 2020, there were 495 homes sold, with a median sale price of $293,200 - a 10.6% increase over the $265,000 median sale price for the same period of the previous year. There were 586 homes sold in Madison in May 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 May 2020:

CityMay 2020 Home SalesMay 2019 Home Sales% change (Total Home Sales)May 2020 Median Sales PriceMay 2019 Median Sales Price% change (Median Sales Price)
Middleton3846-17.4%$395,000$323,397.5022.1%
Verona2227-18.5%$354,500$303,00017%
Windsor1633-51.5%$334,250$290,00015.3%
Mount Horeb1722-22.7%$321,000$281,938.5013.9%
DeForest3445-24.4%$293,500$246,90018.9%
Madison495586-15.5%$293,200$265,00010.6%
Oregon322433.3%$287,250$257,65011.5%
McFarland1722-22.7%$285,000$402,422-29.2%
Cottage Grove1215-20%$280,000$309,000-9.4%
Sun Prairie88862.3%$270,000$260,6003.6%
Brooklyn41300%$263,950$220,50019.7%

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