In May 2018, there were 581 homes sold, with a median sale price of $249,500 - a 8.5% increase over the $230,000 median sale price for the same period of the previous year. There were 637 homes sold in Madison in May 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 May 2018:
| City | May 2018 Home Sales | May 2017 Home Sales | % change (Total Home Sales) | May 2018 Median Sales Price | May 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Fitchburg | 78 | 68 | 14.7% | $302,550 | $291,350 | 3.8% |
| DeForest | 31 | 40 | -22.5% | $283,000 | $231,200 | 22.4% |
| Deerfield | 5 | 6 | -16.7% | $262,000 | $217,450 | 20.5% |
| Verona | 40 | 37 | 8.1% | $252,500 | $255,000 | -1% |
| Cottage Grove | 19 | 8 | 137.5% | $250,000 | $220,000 | 13.6% |
| Madison | 581 | 637 | -8.8% | $249,500 | $230,000 | 8.5% |
| Brooklyn | 3 | 1 | 200% | $247,000 | $200,000 | 23.5% |
| Sun Prairie | 82 | 122 | -32.8% | $246,748 | $219,950 | 12.2% |
| Dane | 1 | 3 | -66.7% | $241,000 | $266,500 | -9.6% |
| Oregon | 27 | 40 | -32.5% | $230,000 | $229,200 | 0.3% |
| Cross Plains | 4 | 9 | -55.6% | $219,850 | $275,500 | -20.2% |
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