In March 2017, there were 438 homes sold, with a median sale price of $229,550 - a 11.3% increase over the $206,200 median sale price for the same period of the previous year. There were 404 homes sold in Madison in March 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 2.2%.
The following table compares Madison to other Dane County cities with similar median sale prices in March 2017:
| City | Mar. 2017 Home Sales | Mar. 2016 Home Sales | % change (Total Home Sales) | Mar. 2017 Median Sales Price | Mar. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Brooklyn | 2 | 2 | 0% | $279,950 | $196,501 | 42.5% |
| Dane | 1 | 2 | -50% | $275,000 | $238,400 | 15.4% |
| Verona | 36 | 29 | 24.1% | $262,450 | $230,000 | 14.1% |
| Fitchburg | 37 | 37 | 0% | $256,700 | $263,930 | -2.7% |
| Middleton | 30 | 46 | -34.8% | $256,250 | $289,000 | -11.3% |
| Madison | 438 | 404 | 8.4% | $229,550 | $206,200 | 11.3% |
| Cross Plains | 8 | 3 | 166.7% | $227,174 | $175,000 | 29.8% |
| Oregon | 30 | 14 | 114.3% | $225,000 | $201,250 | 11.8% |
| DeForest | 29 | 26 | 11.5% | $220,000 | $151,800 | 44.9% |
| Windsor | 24 | 19 | 26.3% | $205,800 | $259,300 | -20.6% |
| Sun Prairie | 74 | 79 | -6.3% | $203,550 | $205,000 | -0.7% |
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