In February 2018, there were 337 homes sold, with a median sale price of $242,300 - a 18.1% increase over the $205,200 median sale price for the same period of the previous year. There were 332 homes sold in Madison in February 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 February 2018:
| City | Feb. 2018 Home Sales | Feb. 2017 Home Sales | % change (Total Home Sales) | Feb. 2018 Median Sales Price | Feb. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Waunakee | 25 | 28 | -10.7% | $345,534 | $210,000 | 64.5% |
| Middleton | 30 | 23 | 30.4% | $339,000 | $275,000 | 23.3% |
| Belleville | 1 | 2 | -50% | $265,000 | $90,000 | 194.4% |
| Sun Prairie | 42 | 48 | -12.5% | $255,900 | $192,900 | 32.7% |
| Cottage Grove | 6 | 8 | -25% | $243,185 | $227,500 | 6.9% |
| Madison | 337 | 332 | 1.5% | $242,300 | $205,200 | 18.1% |
| Oregon | 22 | 18 | 22.2% | $241,000 | $189,100 | 27.4% |
| Verona | 23 | 26 | -11.5% | $240,000 | $242,300 | -0.9% |
| McFarland | 16 | 14 | 14.3% | $225,900 | $259,900 | -13.1% |
| Mount Horeb | 16 | 13 | 23.1% | $216,150 | $238,150 | -9.2% |
| Fitchburg | 42 | 43 | -2.3% | $212,000 | $222,000 | -4.5% |
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