In December 2019, there were 433 homes sold, with a median sale price of $251,900 - a 2.8% decrease over the $259,050 median sale price for the same period of the previous year. There were 384 homes sold in Madison in December 2018.
The median sales tax in Madison for 2019 was $5,538. In 2018, the median sales tax was $5,191. This marks an increase of 6.7%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.2%.
The following table compares Madison to other Dane County cities with similar median sale prices in December 2019:
| City | Dec. 2019 Home Sales | Dec. 2018 Home Sales | % change (Total Home Sales) | Dec. 2019 Median Sales Price | Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Verona | 22 | 18 | 22.2% | $280,750 | $260,932.50 | 7.6% |
| Cambridge | 2 | 4 | -50% | $271,950 | $184,625 | 47.3% |
| Sun Prairie | 69 | 63 | 9.5% | $265,000 | $260,000 | 1.9% |
| Dane | 1 | 1 | 0% | $257,500 | $110,000 | 134.1% |
| McFarland | 20 | 8 | 150% | $252,500 | $355,112.50 | -28.9% |
| Madison | 433 | 384 | 12.8% | $251,900 | $259,050 | -2.8% |
| Stoughton | 23 | 33 | -30.3% | $249,900 | $229,000 | 9.1% |
| Mount Horeb | 30 | 17 | 76.5% | $242,500 | $215,000 | 12.8% |
| Mazomanie | 5 | 5 | 0% | $240,000 | $290,000 | -17.2% |
| DeForest | 29 | 19 | 52.6% | $235,000 | $240,000 | -2.1% |
| Cross Plains | 4 | 8 | -50% | $224,250 | $195,750 | 14.6% |
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