In January 2019, there were 339 homes sold, with a median sale price of $247,500 - a 11.3% increase over the $222,350 median sale price for the same period of the previous year. There were 404 homes sold in Madison in January 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 January 2019:
| City | Jan. 2019 Home Sales | Jan. 2018 Home Sales | % change (Total Home Sales) | Jan. 2019 Median Sales Price | Jan. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Deerfield | 3 | 4 | -25% | $293,000 | $344,950 | -15.1% |
| Fitchburg | 52 | 60 | -13.3% | $291,999 | $262,700 | 11.2% |
| Cross Plains | 8 | 3 | 166.7% | $265,750 | $240,000 | 10.7% |
| Verona | 18 | 25 | -28% | $265,000 | $226,500 | 17% |
| Dane | 1 | 0 | - | $260,000 | $0 | - |
| Madison | 339 | 404 | -16.1% | $247,500 | $222,350 | 11.3% |
| Sun Prairie | 44 | 51 | -13.7% | $242,250 | $206,400 | 17.4% |
| Cottage Grove | 13 | 7 | 85.7% | $237,000 | $287,000 | -17.4% |
| Oregon | 22 | 29 | -24.1% | $217,500 | $289,900 | -25% |
| DeForest | 20 | 31 | -35.5% | $216,500 | $230,000 | -5.9% |
| Mount Horeb | 7 | 18 | -61.1% | $209,000 | $227,512.50 | -8.1% |
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