In February 2017, there were 332 homes sold, with a median sale price of $205,200. There were 321 homes sold in Madison in February 2016, and the median sales price for the period was also $205,200.
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 2.5%.
The following table compares Madison to other Dane County cities with similar median sale prices in February 2017:
| City | Feb. 2017 Home Sales | Feb. 2016 Home Sales | % change (Total Home Sales) | Feb. 2017 Median Sales Price | Feb. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Cross Plains | 6 | 3 | 100% | $234,500 | $218,500 | 7.3% |
| Cottage Grove | 8 | 6 | 33.3% | $227,500 | $193,650 | 17.5% |
| Brooklyn | 1 | 0 | - | $225,000 | $0 | - |
| Fitchburg | 43 | 32 | 34.4% | $222,000 | $212,450 | 4.5% |
| Waunakee | 28 | 22 | 27.3% | $210,000 | $370,750 | -43.4% |
| Madison | 332 | 321 | 3.4% | $205,200 | $205,200 | 0% |
| Sun Prairie | 48 | 50 | -4% | $192,900 | $197,000 | -2.1% |
| Oregon | 18 | 18 | 0% | $189,100 | $248,000 | -23.8% |
| Black Earth | 2 | 0 | - | $181,150 | $0 | - |
| Deerfield | 9 | 6 | 50% | $168,000 | $177,000 | -5.1% |
| Dane | 4 | 2 | 100% | $167,800 | $257,950 | -34.9% |
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