In February 2020, there were four homes sold, with a median sale price of $162,750 - a 12% decrease over the $184,950 median sale price for the same period of the previous year. There were eight homes sold in Madison in February 2019.
The median sales tax in Madison for the most recent year with available data, 2015, was $4,328, approximately 2.7% of the median home sale price for February 2020.
The following table compares Madison to other Lake County cities with similar median sales prices in February 2020:
| City | Feb. 2020 Home Sales | Feb. 2019 Home Sales | % change (Total Home Sales) | Feb. 2020 Median Sales Price | Feb. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| North Perry | 4 | 4 | 0% | $209,950 | $170,500 | 23.1% |
| Grand River | 1 | 0 | - | $207,500 | $0 | - |
| Willoughby Hills | 6 | 4 | 50% | $192,500 | $208,500 | -7.7% |
| Timberlake | 1 | 0 | - | $180,000 | $0 | - |
| Mentor | 35 | 49 | -28.6% | $169,000 | $139,900 | 20.8% |
| Madison | 4 | 8 | -50% | $162,750 | $184,950 | -12% |
| North Madison | 2 | 9 | -77.8% | $158,450 | $109,440 | 44.8% |
| Mentor-on-the-Lake | 5 | 5 | 0% | $148,750 | $114,000 | 30.5% |
| Eastlake | 16 | 12 | 33.3% | $134,950 | $69,800 | 93.3% |
| Willoughby | 22 | 22 | 0% | $127,000 | $139,950 | -9.3% |
| Willowick | 16 | 12 | 33.3% | $125,500 | $108,500 | 15.7% |
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