In April 2017, there were 482 homes sold, with a median sale price of $237,000 - a 12.2% increase over the $211,250 median sale price for the same period of the previous year. There were 510 homes sold in Madison in April 2016.
The median sales tax in Madison for 2017 was $5,028. In 2016, the median sales tax was $4,815. This marks an increase of 4.4%. 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 April 2017:
| City | Apr. 2017 Home Sales | Apr. 2016 Home Sales | % change (Total Home Sales) | Apr. 2017 Median Sales Price | Apr. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Fitchburg | 41 | 57 | -28.1% | $267,000 | $276,000 | -3.3% |
| McFarland | 22 | 13 | 69.2% | $264,250 | $212,000 | 24.6% |
| Cottage Grove | 8 | 23 | -65.2% | $262,500 | $248,000 | 5.8% |
| Waunakee | 37 | 49 | -24.5% | $250,000 | $299,900 | -16.6% |
| Cross Plains | 6 | 11 | -45.5% | $246,100 | $200,914 | 22.5% |
| Madison | 482 | 510 | -5.5% | $237,000 | $211,250 | 12.2% |
| Mount Horeb | 9 | 9 | 0% | $235,000 | $135,000 | 74.1% |
| Sun Prairie | 67 | 70 | -4.3% | $230,000 | $196,500 | 17% |
| Belleville | 3 | 7 | -57.1% | $213,000 | $189,900 | 12.2% |
| Oregon | 30 | 21 | 42.9% | $208,000 | $225,000 | -7.6% |
| Dane | 2 | 1 | 100% | $202,800 | $98,000 | 106.9% |
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