The median sale price of a home sold in September 2020 in Madison rose by $54,500 while total sales increased by 20%, according to BlockShopper.com.
In September 2020, there were 18 homes sold, with a median sale price of $193,500 - a 39.2% increase over the $139,000 median sale price for the same period of the previous year. There were 15 homes sold in Madison in September 2019.
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 September 2020.
The following table compares Madison to other Lake County cities with similar median sales prices in September 2020:
| City | Sept. 2020 Home Sales | Sept. 2019 Home Sales | % change (Total Home Sales) | Sept. 2020 Median Sales Price | Sept. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Willoughby Hills | 7 | 4 | 75% | $225,000 | $265,000 | -15.1% |
| North Perry | 8 | 9 | -11.1% | $224,950 | $212,000 | 6.1% |
| Perry | 4 | 1 | 300% | $224,450 | $190,000 | 18.1% |
| Timberlake | 3 | 1 | 200% | $207,500 | $189,900 | 9.3% |
| Mentor | 103 | 82 | 25.6% | $197,000 | $171,500 | 14.9% |
| Madison | 18 | 15 | 20% | $193,500 | $139,000 | 39.2% |
| Lane | 1 | 0 | - | $179,000 | $0 | - |
| Willoughby | 40 | 28 | 42.9% | $167,500 | $121,225 | 38.2% |
| Mentor-on-the-Lake | 16 | 14 | 14.3% | $166,500 | $140,000 | 18.9% |
| Painesville | 73 | 73 | 0% | $156,000 | $156,000 | 0% |
| Willowick | 24 | 23 | 4.3% | $151,500 | $124,500 | 21.7% |
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