Let's talk about median home prices in the Madison Area and Dane County for Q1 of 2021.

The definition of the median home price is 'the home falls in the middle'. We use this because we don't have all the outliers that we do for the average home price.

The median home price in the Madison Area right now is $390,000, and $400,000 in Dane County.

In 2020, the median home price was $320,000. This means that in just 2 years, we've gone up almost 20% with that median.

What's that mean for affordability?

In January, we saw interest rates at 3.25%, but now we've reached around 5.25%. That means your payment from January 2022 has gone up by 18%.

If you have any more questions, give me, Mark Gladue, a call!

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