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Buckeye Reporter

Thursday, October 31, 2024

Madison home prices fall in March 2020

Re 7

The median sale price of a home sold in March 2020 in Madison fell by $50,750 while total sales increased by 71.4%, according to BlockShopper.com.

In March 2020, there were 12 homes sold, with a median sale price of $119,250 - a 29.9% decrease over the $170,000 median sale price for the same period of the previous year. There were seven homes sold in Madison in March 2019.

The median sales tax in Madison for the most recent year with available data, 2015, was $4,328, approximately 3.6% of the median home sale price for March 2020.

The following table compares Madison to other Lake County cities with similar median sales prices in March 2020:

CityMar. 2020 Home SalesMar. 2019 Home Sales% change (Total Home Sales)Mar. 2020 Median Sales PriceMar. 2019 Median Sales Price% change (Median Sales Price)
North Madison1012-16.7%$139,900$137,4001.8%
Willoughby3132-3.1%$134,500$138,000-2.5%
Eastlake282133.3%$127,995$127,0000.8%
Willowick17166.3%$127,000$123,2503%
Painesville695819%$120,000$123,250-2.6%
Madison12771.4%$119,250$170,000-29.9%
Wickliffe2327-14.8%$112,500$110,0002.3%
Avenues Mobile Estates23-33.3%$93,500$46,000103.3%
Grand River110%$89,500$159,000-43.7%
Lane110%$75,000$362,000-79.3%
Shoreland110%$24,000$28,500-15.8%

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