From October through December of 2020, there were 38 homes sold, with a median sale price of $185,900 - a 20% increase over the $154,900 median sale price for the same period of the previous year. There were 33 homes sold in Madison in the fourth quarter of 2019.
The median sales tax in Madison for the most recent year with available data, 2019, was $5,188, approximately 2.8% of the median home sale price for the fourth quarter of 2020.
The following table compares Madison to other Lake County cities with similar median sale prices in the fourth quarter of 2020:
| City | Oct. - Dec. 2020 Home Sales | Oct. - Dec. 2019 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2020 Median Sales Price | Oct. - Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Kirtland | 31 | 14 | 121.4% | $325,000 | $266,250 | 22.1% |
| Perry | 8 | 6 | 33.3% | $279,500 | $140,500 | 98.9% |
| Willoughby Hills | 29 | 13 | 123.1% | $251,000 | $220,000 | 14.1% |
| North Perry | 20 | 16 | 25% | $214,700 | $155,450 | 38.1% |
| Timberlake | 4 | 2 | 100% | $202,750 | $186,750 | 8.6% |
| Madison | 38 | 33 | 15.2% | $185,900 | $154,900 | 20% |
| Lakeline | 3 | 2 | 50% | $174,900 | $196,000 | -10.8% |
| Mentor | 266 | 184 | 44.6% | $173,950 | $152,450 | 14.1% |
| Painesville | 245 | 205 | 19.5% | $169,000 | $142,500 | 18.6% |
| Willoughby | 111 | 86 | 29.1% | $153,000 | $155,750 | -1.8% |
| Mentor-on-the-Lake | 39 | 28 | 39.3% | $152,200 | $131,862.50 | 15.4% |
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