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Tuesday, November 5, 2024

Home prices increased in Madison during October 2018

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The median sale price of a home sold in October 2018 in Madison rose by $12,400 while total sales decreased by 11.7%, according to BlockShopper.com.

In October 2018, there were 477 homes sold, with a median sale price of $250,000 - a 5.2% increase over the $237,600 median sale price for the same period of the previous year. There were 540 homes sold in Madison in October 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 October 2018:

CityOct. 2018 Home SalesOct. 2017 Home Sales% change (Total Home Sales)Oct. 2018 Median Sales PriceOct. 2017 Median Sales Price% change (Median Sales Price)
McFarland231376.9%$319,000$240,00032.9%
Verona2831-9.7%$289,550$217,50033.1%
Fitchburg574916.3%$288,000$295,000-2.4%
Mount Horeb2427-11.1%$262,850$224,36817.2%
Windsor342917.2%$251,625$255,000-1.3%
Madison477540-11.7%$250,000$237,6005.2%
Dane21100%$249,950$53,000371.6%
Cross Plains8560%$248,450$230,0008%
DeForest38365.6%$247,450$276,977.50-10.7%
Sun Prairie8387-4.6%$245,000$228,0007.5%
Cottage Grove191435.7%$234,000$257,700-9.2%

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