In May 2019, there were 586 homes sold, with a median sale price of $265,000 - a 6.2% increase over the $249,500 median sale price for the same period of the previous year. There were 581 homes sold in Madison in May 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 2.1%.
The following table compares Madison to other Dane County cities with similar median sale prices in May 2019:
| City | May 2019 Home Sales | May 2018 Home Sales | % change (Total Home Sales) | May 2019 Median Sales Price | May 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Cottage Grove | 15 | 19 | -21.1% | $309,000 | $250,000 | 23.6% |
| Verona | 27 | 40 | -32.5% | $303,000 | $252,500 | 20% |
| Waunakee | 37 | 49 | -24.5% | $296,000 | $316,000 | -6.3% |
| Windsor | 33 | 27 | 22.2% | $290,000 | $186,000 | 55.9% |
| Mount Horeb | 22 | 27 | -18.5% | $281,938.50 | $176,676 | 59.6% |
| Madison | 586 | 581 | 0.9% | $265,000 | $249,500 | 6.2% |
| Sun Prairie | 86 | 82 | 4.9% | $260,600 | $246,748 | 5.6% |
| Oregon | 24 | 27 | -11.1% | $257,650 | $230,000 | 12% |
| DeForest | 45 | 31 | 45.2% | $246,900 | $283,000 | -12.8% |
| Cross Plains | 11 | 4 | 175% | $241,000 | $219,850 | 9.6% |
| Brooklyn | 1 | 3 | -66.7% | $220,500 | $247,000 | -10.7% |
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