From April through June of 2021, there were 46 homes sold, with a median sale price of $191,000 - a 23.2% increase over the $155,000 median sale price for the same period of the previous year. There were 33 homes sold in Madison in the second quarter of 2020.
The median sales tax in Madison for the most recent year with available data, 2019, was $5,188, approximately 2.7% of the median home sale price for the second quarter of 2021.
The following table compares Madison to other Lake County cities with similar median sale prices in the second quarter of 2021:
| City | Apr. - June 2021 Home Sales | Apr. - June 2020 Home Sales | % change (Total Home Sales) | Apr. - June 2021 Median Sales Price | Apr. - June 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Willoughby Hills | 27 | 21 | 28.6% | $310,000 | $225,000 | 37.8% |
| North Perry | 14 | 15 | -6.7% | $264,000 | $199,000 | 32.7% |
| Perry | 9 | 9 | 0% | $208,000 | $199,000 | 4.5% |
| Mentor | 259 | 218 | 18.8% | $203,000 | $185,500 | 9.4% |
| Lakeline | 3 | 0 | - | $200,000 | $0 | - |
| Madison | 46 | 33 | 39.4% | $191,000 | $155,000 | 23.2% |
| Willoughby | 97 | 94 | 3.2% | $175,000 | $159,900 | 9.4% |
| Painesville | 250 | 172 | 45.3% | $169,000 | $169,950 | -0.6% |
| Grand River | 3 | 2 | 50% | $165,000 | $176,250 | -6.4% |
| Mentor-on-the-Lake | 41 | 37 | 10.8% | $161,500 | $145,500 | 11% |
| Eastlake | 100 | 77 | 29.9% | $151,750 | $124,900 | 21.5% |
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