Madison Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Madison averaged 7.02% for the week of 2023-03-16, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2023-03-09) was 6.75% and one month ago for the week of 2023-02-09, the average rate was 6.54%.

    Madison's average rate one year ago was 4.07%.

    For refis of the same type during the week of 2023-03-16, the average rate was 6.61%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-16 6.6%
    Madison 30 Year Fixed Rate 2023-03-16 7.02%
    Madison 30 Year Fixed Rate Refi 2023-03-16 6.61%
    Madison 15 Year Fixed Rate 2023-03-16 7.39%
    Madison 15 Year Fixed Rate Refi 2023-03-16 6.41%
    Madison 30 Year FHA 2023-03-16 6.68%
    Madison 30 Year FHA Refi 2023-03-16 6.7%
    Madison 30 Year USDA 2023-03-16 6.41%
    Madison 30 Year USDA Refi 2023-03-16 6.82%
    Madison 30 Year VA 2023-03-16 6.8%
    Madison 30 Year VA Refi 2023-03-16 6.37%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Madison, IN.

    Madison Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Madison, IN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    First Financial Bank 83 3.33% $2,714
    RUOFF MORTGAGE COMPANY, INC. 64 3.19% $2,033
    German American Bank 54 3.11% $2,517
    QUICKEN LOANS, LLC 28 3.15% $5,559
    The Friendship State Bank 26 3.18% $2,856
    FAIR WAY LENDING LLC 18 3.05% $3,803
    GENEVA FINANCIAL, LLC 17 3.26% $3,898
    Centra Credit Union 16 3.02% $2,610
    JPMorgan Chase Bank 7 3.25% $2,026
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 3.28% $2,869
    Farm Credit Mid-America, ACA 7 3.53% $5,705
    HOME POINT FINANCIAL CORPORATION 7 3.16% $3,758
    AMERISAVE MORTGAGE CORPORATION 6 2.83% $4,921
    Old National Bank 6 3.06% $2,301
    BETTER MORTGAGE CORPORATION 5 3.38% $1,896
    UNITED WHOLESALE MORTGAGE, LLC 5 2.77% $2,963
    Jackson County Bank 5 3.73% $2,638
    Citizens Bank 4 3.13% $2,502
    Fifth Third Bank 4 3.12% $2,889
    PENNYMAC LOAN SERVICES, LLC 4 3.66% $6,314
    Wells Fargo Bank 4 3.19% $3,110
    CALIBER HOME LOANS, INC. 3 3.21% $2,605
    AMERIFIRST FINANCIAL CORPORATION 3 3.29% $3,966
    Flagstar Bank, FSB 3 2.99% $2,112
    First Savings Bank 3 3.33% $2,465
    GUARANTY HOME MORTGAGE CORPORATION 2 3.25% $2,161
    AMERICAN FINANCIAL NETWORK, INC. 2 3.25% $7,064
    CROSSCOUNTRY MORTGAGE, LLC 2 3.31% $2,602
    Union Savings Bank 2 3.06% $1,017
    Colten Mortgage, LLC 2 3.63% $4,148
    BROKER SOLUTIONS, INC. 2 3.24% $2,569
    Republic Bank & Trust Company 2 2.75% $3,011
    Century Mortgage Company DBA Century Lending Company 2 2.94% $3,751
    SOFI LENDING CORP. 2 3.06% $2,511
    Ally Bank 2 3.13% $3,540
    PNC Bank 2 3.63% $2,138
    Stock Yards Bank & Trust Company 1 3.00% $2,366
    TEACHERS CREDIT UNION 1 3.00% $2,539
    The Huntington National Bank 1 3.25% $2,588
    The Peoples State Bank 1 3.00% $2,048
    THRIVE MORTGAGE, LLC 1 2.88% $2,577
    Truist 1 2.63% $2,101
    U.S. Bank 1 3.25% $2,093
    21ST MORTGAGE CORPORATION 1 5.25% $5,993
    Wolfe Financial, Inc 1 3.25% $3,296
    AMERICAN FINANCING CORPORATION 1 2.75% $5,816
    Baxter Credit Union 1 2.63% $2,445
    BAY EQUITY LLC 1 3.25% $2,662
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.13% $3,403
    Carrington Mortgage Services, LLC 1 3.25% $2,877
    CELEBRITY HOME LOANS, LLC 1 4.25% $4,790
    CHEVRON 1 3.25% $2,461
    Cincinnati Federal 1 3.25% $2,688
    CMG MORTGAGE, INC. 1 2.88% $2,715
    CRANE 1 3.25% $2,619
    EVANSVILLE TEACHERS 1 2.75% $1,873
    First Guaranty Mortgage Corporation 1 3.00% $2,983
    First Merchants Bank 1 2.75% $2,640
    FREEDOM MORTGAGE CORPORATION 1 2.75% $2,231
    GENERAL ELECTRIC CREDIT UNION 1 3.00% $2,316
    GUARANTEED RATE, INC. 1 3.38% $3,079
    Guardian Savings Bank, A Federal Savings Bank 1 2.75% $300
    Lake City Bank 1 3.25% $2,336
    LAKE MORTGAGE COMPANY INC 1 3.25% $3,056
    LOANDEPOT.COM, LLC 1 3.25% $2,550
    LOANFLIGHT LENDING, LLC 1 2.88% $900
    Magnolia Bank 1 2.99% $2,184
    MILESTONE HOME LENDING, LLC 1 3.38% $2,391
    Mortgage Research Center, LLC 1 2.99% $1,471
    Mr. Cooper ( Nationstar Mortgage ) 1 4.88% $4,738
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.38% $4,315
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.49% $11,346
    NETWORK CAPITAL FUNDING CORPORATION 1 3.13% $1,064
    NEWREZ LLC 1 2.99% $2,251
    PARK COMMUNITY CREDIT UNION, INC. 1 4.00% $2,067
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 4.25% $3,059
    Prosperity Home Mortgage, LLC 1 3.13% $2,633
    Regions Bank 1 3.13% $3,097
    ROYAL UNITED MORTGAGE LLC 1 3.88% $3,635
    STEARNS LENDING, LLC 1 3.63% $1,966

    Madison Average Closing Costs & Other Stats

    Madison, IN's 80 lenders originated 1,412 loans during 2021. The total origination value was $201,490,000, with an average loan value of $142,698.

    Madison's average closing costs are $3,597.

    The top Madison lender as defined by loan originations is First Financial Bank, with 83 loans originated. Their average total fees are $2,714, which is $681 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

    The lowest fee Madison lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($2,033), German American Bank ($2,517), Centra Credit Union ($2,610), First Financial Bank ($2,714) and The Friendship State Bank ($2,856).

    The lowest rate Madison lenders (with over 10 loans originated) are Centra Credit Union (3.02%), FAIR WAY LENDING LLC (3.05%), German American Bank (3.11%), QUICKEN LOANS, LLC (3.15%) and The Friendship State Bank (3.18%).

    Madison, IN Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
    First Financial Bank $26,825,000 $29,030,000 8.2% 14.4%
    German American Bank $27,555,000 $27,730,000 0.6% 13.8%
    RUOFF MORTGAGE COMPANY, INC. $15,220,000 $21,170,000 39.1% 10.5%
    The Friendship State Bank $12,545,000 $12,815,000 2.2% 6.4%
    QUICKEN LOANS, LLC $7,030,000 $11,460,000 63.0% 5.7%
    GENEVA FINANCIAL, LLC $8,455,000 $8,770,000 3.7% 4.4%
    The Farmers Bank of Milton $7,910,000 $8,545,000 8.0% 4.2%
    FAIR WAY LENDING LLC $8,175,000 $6,140,000 -24.9% 3.0%
    FREEDOM MORTGAGE CORPORATION $4,545,000 $6,065,000 33.4% 3.0%
    Centra Credit Union $5,535,000 $4,770,000 -13.8% 2.4%
    HOME POINT FINANCIAL CORPORATION $2,610,000 $3,650,000 39.8% 1.8%
    Farm Credit Mid-America, ACA $2,100,000 $2,820,000 34.3% 1.4%
    PENNYMAC LOAN SERVICES, LLC $510,000 $2,495,000 389.2% 1.2%
    Old National Bank $1,770,000 $2,040,000 15.3% 1.0%
    AMERISAVE MORTGAGE CORPORATION $995,000 $2,025,000 103.5% 1.0%
    Mr. Cooper ( Nationstar Mortgage ) $1,700,000 $1,660,000 -2.4% 0.8%
    Jackson County Bank $2,020,000 $1,505,000 -25.5% 0.7%
    Mortgage Research Center, LLC $840,000 $1,500,000 78.6% 0.7%
    CALIBER HOME LOANS, INC. $510,000 $1,450,000 184.3% 0.7%
    JPMorgan Chase Bank $1,555,000 $1,425,000 -8.4% 0.7%
    LOANDEPOT.COM, LLC $1,300,000 $1,390,000 6.9% 0.7%
    LAKEVIEW LOAN SERVICING, LLC $600,000 $1,380,000 130.0% 0.7%
    UNITED WHOLESALE MORTGAGE, LLC $1,755,000 $1,345,000 -23.4% 0.7%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $155,000 $1,340,000 764.5% 0.7%
    First Financial Bank $26,825,000 $1,265,000 -95.3% 0.6%
    Wolfe Financial, Inc $1,260,000 $1,160,000 -7.9% 0.6%
    Fifth Third Bank $1,045,000 $1,135,000 8.6% 0.6%
    Wells Fargo Bank $1,130,000 $980,000 -13.3% 0.5%
    AMERIFIRST FINANCIAL CORPORATION $610,000 $910,000 49.2% 0.5%
    Farmers Bank & Trust $890,000 n/a 0.4%
    Citizens Bank $715,000 $850,000 18.9% 0.4%
    BETTER MORTGAGE CORPORATION $315,000 $835,000 165.1% 0.4%
    Magnolia Bank $1,685,000 $820,000 -51.3% 0.4%
    First Savings Bank $795,000 $810,000 1.9% 0.4%
    Century Mortgage Company DBA Century Lending Company $805,000 n/a 0.4%
    MUTUAL OF OMAHA MORTGAGE, INC. $695,000 n/a 0.3%
    NEWREZ LLC $685,000 n/a 0.3%
    THRIVE MORTGAGE, LLC $640,000 n/a 0.3%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $145,000 $625,000 331.0% 0.3%
    U.S. Bank $655,000 $605,000 -7.6% 0.3%
    PNC Bank $795,000 $575,000 -27.7% 0.3%
    Colten Mortgage, LLC $555,000 n/a 0.3%
    UNION HOME MORTGAGE CORP. $555,000 n/a 0.3%
    CROSSCOUNTRY MORTGAGE, LLC $625,000 $550,000 -12.0% 0.3%
    LOANFLIGHT LENDING, LLC $550,000 n/a 0.3%
    VANDERBILT MORTGAGE AND FINANCE, INC. $115,000 $550,000 378.3% 0.3%
    STEARNS LENDING, LLC $95,000 $545,000 473.7% 0.3%
    Commonwealth Bank and Trust Company $155,000 $515,000 232.3% 0.3%
    Flagstar Bank, FSB $515,000 n/a 0.3%
    Republic Bank & Trust Company $505,000 n/a 0.3%
    Forcht Bank $475,000 n/a 0.2%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $135,000 $470,000 248.1% 0.2%
    SOFI LENDING CORP. $315,000 $460,000 46.0% 0.2%
    NAVY FEDERAL CREDIT UNION $130,000 $430,000 230.8% 0.2%
    Cincinnati Federal $415,000 n/a 0.2%
    AmeriHome Mortgage Company, LLC $610,000 $405,000 -33.6% 0.2%
    Carrington Mortgage Services, LLC $360,000 $395,000 9.7% 0.2%
    SOVEREIGN LENDING GROUP INCORPORATED $385,000 n/a 0.2%
    Ally Bank $105,000 $380,000 261.9% 0.2%
    GENERAL ELECTRIC CREDIT UNION $370,000 n/a 0.2%
    GUARANTEED RATE, INC. $365,000 n/a 0.2%
    EVANSVILLE TEACHERS $160,000 $360,000 125.0% 0.2%
    Union Savings Bank $145,000 $360,000 148.3% 0.2%
    PROPER RATE, LLC $355,000 n/a 0.2%
    Truist Bank $415,000 $355,000 -14.5% 0.2%
    AMERICAN FINANCIAL NETWORK, INC. $350,000 n/a 0.2%
    ENVOY MORTGAGE, LTD $350,000 n/a 0.2%
    Stock Yards Bank & Trust Company $350,000 n/a 0.2%
    Barrington Bank & Trust Company, N.A. $640,000 $340,000 -46.9% 0.2%
    GVC MORTGAGE, INC. $610,000 $340,000 -44.3% 0.2%
    Hometown Lenders, Inc. $315,000 n/a 0.2%
    The Peoples State Bank $175,000 $310,000 77.1% 0.2%
    First Harrison Bank $305,000 n/a 0.2%
    CMG MORTGAGE, INC. $565,000 $300,000 -46.9% 0.1%
    DAS Acquisition Company, LLC $285,000 $295,000 3.5% 0.1%
    BROKER SOLUTIONS, INC. $495,000 $280,000 -43.4% 0.1%
    Low VA Rates, LLC $275,000 n/a 0.1%
    PLANET HOME LENDING, LLC $270,000 n/a 0.1%
    The Huntington National Bank $1,040,000 $270,000 -74.0% 0.1%
    Community Trust Bank, Inc. $265,000 n/a 0.1%
    NATIONWIDE MORTGAGE BANKERS, INC. $265,000 n/a 0.1%
    TEACHERS CREDIT UNION $260,000 n/a 0.1%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $255,000 n/a 0.1%
    LAKE MORTGAGE COMPANY INC $255,000 n/a 0.1%
    MILESTONE HOME LENDING, LLC $255,000 n/a 0.1%
    Prosperity Home Mortgage, LLC $155,000 $255,000 64.5% 0.1%
    BAY EQUITY LLC $310,000 $250,000 -19.4% 0.1%
    AMERICAN FINANCING CORPORATION $245,000 n/a 0.1%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $400,000 $240,000 -40.0% 0.1%
    GUARANTY HOME MORTGAGE CORPORATION $360,000 $240,000 -33.3% 0.1%
    MID AMERICA MORTGAGE, INC. $200,000 $240,000 20.0% 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $215,000 $235,000 9.3% 0.1%
    Bedford Loan & Deposit Bank $275,000 $225,000 -18.2% 0.1%
    ROYAL UNITED MORTGAGE LLC $390,000 $225,000 -42.3% 0.1%
    Equity Prime Mortgage LLC $220,000 n/a 0.1%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $215,000 n/a 0.1%
    NETWORK CAPITAL FUNDING CORPORATION $215,000 n/a 0.1%
    ACCELERATE MORTGAGE, LLC $205,000 n/a 0.1%
    THE MORTGAGE WAREHOUSE,LLC $215,000 $205,000 -4.7% 0.1%
    SUCCESS MORTGAGE PARTNERS, INC. $1,440,000 $195,000 -86.5% 0.1%
    LIMA ONE CAPITAL, LLC $190,000 n/a 0.1%
    USAA Federal Savings Bank $1,500,000 $190,000 -87.3% 0.1%
    CRANE $185,000 n/a 0.1%
    21ST MORTGAGE CORPORATION $470,000 $175,000 -62.8% 0.1%
    Bank of England $175,000 n/a 0.1%
    CHEVRON $175,000 n/a 0.1%
    INTERLINC MORTGAGE SERVICES, LLC $430,000 $165,000 -61.6% 0.1%
    Gateway First Bank $145,000 $160,000 10.3% 0.1%
    Honor Credit Union $155,000 n/a 0.1%
    OPEN MORTGAGE, LLC $155,000 n/a 0.1%
    Regions Bank $155,000 n/a 0.1%
    SUN WEST MORTGAGE COMPANY, INC. $940,000 $155,000 -83.5% 0.1%
    Baxter Credit Union $145,000 n/a 0.1%
    HOMESIDE FINANCIAL, LLC $145,000 n/a 0.1%
    Northpointe Bank $160,000 $145,000 -9.4% 0.1%
    DRAPER AND KRAMER MORTGAGE CORP. $135,000 n/a 0.1%
    Lake City Bank $135,000 n/a 0.1%
    Guardian Savings Bank, A Federal Savings Bank $540,000 $125,000 -76.9% 0.1%
    Nations Lending Corporation $125,000 n/a 0.1%
    CELEBRITY HOME LOANS, LLC $115,000 n/a 0.1%
    First Guaranty Mortgage Corporation $115,000 n/a 0.1%
    First Merchants Bank $115,000 n/a 0.1%
    MIDLAND MORTGAGE CORPORATION $115,000 n/a 0.1%
    NEW DAY FINANCIAL, LLC $740,000 $115,000 -84.5% 0.1%
    SOUTHWEST FUNDING, LP $115,000 n/a 0.1%
    TOP FLITE FINANCIAL, INC. $255,000 $115,000 -54.9% 0.1%
    VICTORY MORTGAGE, L.L.C. $115,000 $115,000 0.0% 0.1%
    PARK COMMUNITY CREDIT UNION, INC. $360,000 $105,000 -70.8% 0.1%
    AMERICAN ADVISORS GROUP $95,000 n/a 0.0%
    Discover Bank $85,000 n/a 0.0%
    First Midwest Bank $85,000 n/a 0.0%
    The Farmers Bank, Frankfort, Indiana $85,000 n/a 0.0%
    MYCUMORTGAGE, LLC $180,000 $75,000 -58.3% 0.0%
    TRIAD FINANCIAL SERVICES, INC. $50,000 n/a 0.0%
    Flanagan State Bank $35,000 n/a 0.0%
    CREDIT HUMAN FEDERAL CREDIT UNION $45,000 $25,000 -44.4% 0.0%

    Madison's top lender by overall market share is First Financial Bank, with 14.4% market share. In second place, with 13.8%, is German American Bank, having originated $27,730,000 in loans. In third place, with 10.5%, is RUOFF MORTGAGE COMPANY, INC., having originated $21,170,000 in loans. In fourth place, with 6.4%, is The Friendship State Bank, having originated $12,815,000 in loans. In fifth place, with 5.7%, is QUICKEN LOANS, LLC, having originated $11,460,000 in loans.

    Madison Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $159,900 (24.0%) $196,344 (33.3%) 0.00 113
    2018-02-01 $161,150 (24.1%) $197,215 (33.7%) 0.00 117
    2018-03-01 $159,900 (19.1%) $196,045 (15.4%) 0.00 122
    2018-04-01 $162,925 (18.5%) $203,340 (7.2%) 0.00 115
    2018-05-01 $161,425 (17.1%) $199,518 (2.4%) 0.00 112
    2018-06-01 $163,000 (13.1%) $203,012 (1.7%) 0.00 112
    2018-07-01 $161,150 (11.2%) $213,341 (5.7%) 0.00 118
    2018-08-01 $161,150 (7.0%) $215,007 (8.1%) 0.00 122
    2018-09-01 $162,400 (0.7%) $221,093 (6.6%) 0.00 130
    2018-10-01 $159,900 (-0.9%) $222,465 (4.8%) 0.00 126
    2018-11-01 $158,400 (2.3%) $217,549 (3.3%) 0.00 114
    2018-12-01 $162,000 (8.1%) $216,510 (4.2%) 0.00 108
    2019-01-01 $177,400 (10.9%) $221,628 (12.9%) 0.00 110
    2019-02-01 $175,550 (8.9%) $225,116 (14.2%) 0.00 96
    2019-03-01 $177,171 (10.8%) $229,040 (16.8%) 0.00 98
    2019-04-01 $191,050 (17.3%) $233,133 (14.7%) 0.00 98
    2019-05-01 $194,500 (20.5%) $228,110 (14.3%) 0.00 106
    2019-06-01 $195,000 (19.6%) $224,883 (10.8%) 0.00 104
    2019-07-01 $189,000 (17.3%) $231,701 (8.6%) 0.00 109
    2019-08-01 $179,545 (11.4%) $222,285 (3.4%) 0.00 119
    2019-09-01 $173,614 (6.9%) $215,591 (-2.5%) 0.00 134
    2019-10-01 $169,000 (5.7%) $210,369 (-5.4%) 0.00 142
    2019-11-01 $165,000 (4.2%) $214,366 (-1.5%) 0.00 125
    2019-12-01 $159,700 (-1.4%) $218,712 (1.0%) 0.00 122
    2020-01-01 $154,900 (-12.7%) $191,526 (-13.6%) 0.00 117
    2020-02-01 $149,900 (-14.6%) $187,540 (-16.7%) 0.00 114
    2020-03-01 $164,000 (-7.4%) $192,862 (-15.8%) 0.00 108
    2020-04-01 $165,000 (-13.6%) $191,808 (-17.7%) 0.00 99
    2020-05-01 $177,500 (-8.7%) $197,710 (-13.3%) 0.00 97
    2020-06-01 $182,450 (-6.4%) $205,423 (-8.7%) 0.00 89
    2020-07-01 $183,125 (-3.1%) $213,709 (-7.8%) 0.00 78
    2020-08-01 $185,400 (3.3%) $224,649 (1.1%) 0.00 74
    2020-09-01 $184,900 (6.5%) $221,608 (2.8%) 0.00 56
    2020-10-01 $164,900 (-2.4%) $211,398 (0.5%) 0.00 47
    2020-11-01 $167,325 (1.4%) $207,704 (-3.1%) 0.00 54
    2020-12-01 $179,450 (12.4%) $209,776 (-4.1%) 0.00 51
    2021-01-01 $169,900 (9.7%) $206,793 (8.0%) 0.00 44
    2021-02-01 $158,050 (5.4%) $204,200 (8.9%) 0.00 31
    2021-03-01 $174,900 (6.7%) $217,720 (12.9%) 0.00 36
    2021-04-01 $168,700 (2.2%) $219,270 (14.3%) 0.00 32
    2021-05-01 $184,900 (4.2%) $231,321 (17.0%) 0.00 31
    2021-06-01 $181,800 (-0.4%) $229,273 (11.6%) 0.00 43
    2021-07-01 $189,450 (3.5%) $232,528 (8.8%) 0.00 56
    2021-08-01 $184,900 (-0.3%) $232,816 (3.6%) 0.00 73
    2021-09-01 $207,000 (12.0%) $256,591 (15.8%) 0.00 73
    2021-10-01 $207,000 (25.5%) $257,087 (21.6%) 0.00 66
    2021-11-01 $209,900 (25.4%) $276,168 (33.0%) 0.00 47
    2021-12-01 $234,900 (30.9%) $293,204 (39.8%) 0.00 50
    2022-01-01 $209,900 (23.5%) $272,508 (31.8%) 0.00 58
    2022-02-01 $202,475 (28.1%) $251,114 (23.0%) 0.00 51
    2022-03-01 $223,925 (28.0%) $262,252 (20.5%) 0.00 49
    2022-04-01 $229,000 (35.7%) $290,745 (32.6%) 0.00 40
    2022-05-01 $257,200 (39.1%) $293,652 (27.0%) 0.00 42
    2022-06-01 $239,900 (32.0%) $267,498 (16.7%) 0.00 47
    2022-07-01 $253,400 (33.8%) $280,789 (20.8%) 0.00 66
    2022-08-01 $243,725 (31.8%) $277,265 (19.1%) 0.00 73
    2022-09-01 $252,250 (21.9%) $285,543 (11.3%) 0.00 71
    2022-10-01 $247,000 (19.3%) $299,200 (16.4%) 0.00 78
    2022-11-01 $219,900 (4.8%) $283,762 (2.8%) 0.00 70
    2022-12-01 $254,950 (8.5%) $314,466 (7.3%) 0.00 53
    2023-01-01 $244,700 (16.6%) $326,691 (19.9%) 0.00 54
    2023-02-01 $266,150 (31.5%) $334,543 (33.2%) 0.00 48
    Madison's median listing price for 2023-02-01 was $266,150, a difference of $63,675 (31.5%) versus the prior year and $21,450 versus the prior month.

    Madison's median listing price comes in at 0% of the national average.

    Madison's average listing price for 2023-02-01 was $334,543, a difference of $83,429 (33.2%) versus the prior year and $7,852 versus the prior month.

    For the 2023-02-01 period, Madison had 48 MLS listings, a difference of -6 listings (-11%) versus the prior month and -3 listings (-6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,920 sqft
    2018-02-01 0 days 1,902 sqft
    2018-03-01 0 days 1,920 sqft
    2018-04-01 0 days 1,931 sqft
    2018-05-01 0 days 1,926 sqft
    2018-06-01 0 days 1,955 sqft
    2018-07-01 0 days 1,942 sqft
    2018-08-01 0 days 1,933 sqft
    2018-09-01 0 days 1,967 sqft
    2018-10-01 0 days 1,967 sqft
    2018-11-01 0 days 2,014 sqft
    2018-12-01 0 days 1,930 sqft
    2019-01-01 0 days 1,881 sqft
    2019-02-01 0 days 1,879 sqft
    2019-03-01 0 days 1,849 sqft
    2019-04-01 0 days 1,887 sqft
    2019-05-01 0 days 1,971 sqft
    2019-06-01 0 days 1,878 sqft
    2019-07-01 0 days 1,859 sqft
    2019-08-01 0 days 1,815 sqft
    2019-09-01 0 days 1,757 sqft
    2019-10-01 0 days 1,701 sqft
    2019-11-01 0 days 1,705 sqft
    2019-12-01 0 days 1,690 sqft
    2020-01-01 0 days 1,683 sqft
    2020-02-01 0 days 1,680 sqft
    2020-03-01 0 days 1,690 sqft
    2020-04-01 0 days 1,603 sqft
    2020-05-01 0 days 1,750 sqft
    2020-06-01 0 days 1,750 sqft
    2020-07-01 0 days 1,753 sqft
    2020-08-01 0 days 1,768 sqft
    2020-09-01 0 days 1,824 sqft
    2020-10-01 0 days 1,663 sqft
    2020-11-01 0 days 1,751 sqft
    2020-12-01 0 days 1,607 sqft
    2021-01-01 0 days 1,560 sqft
    2021-02-01 0 days 1,392 sqft
    2021-03-01 0 days 1,443 sqft
    2021-04-01 0 days 1,496 sqft
    2021-05-01 0 days 1,624 sqft
    2021-06-01 0 days 1,443 sqft
    2021-07-01 0 days 1,462 sqft
    2021-08-01 0 days 1,463 sqft
    2021-09-01 0 days 1,445 sqft
    2021-10-01 0 days 1,514 sqft
    2021-11-01 0 days 1,835 sqft
    2021-12-01 0 days 1,818 sqft
    2022-01-01 0 days 1,792 sqft
    2022-02-01 0 days 1,775 sqft
    2022-03-01 0 days 1,772 sqft
    2022-04-01 0 days 1,788 sqft
    2022-05-01 0 days 1,798 sqft
    2022-06-01 0 days 1,793 sqft
    2022-07-01 0 days 1,800 sqft
    2022-08-01 0 days 1,886 sqft
    2022-09-01 0 days 1,863 sqft
    2022-10-01 0 days 1,856 sqft
    2022-11-01 0 days 1,740 sqft
    2022-12-01 0 days 1,784 sqft
    2023-01-01 0 days 1,703 sqft
    2023-02-01 0 days 1,745 sqft
    Madison's median listing age (time on market) for 2023-02-01 was 0 days.

    Madison's median square footage for active listings during the 2023-02-01 period was 1,745 sqft. One year prior, the average listing was 1,775 sqft.

    Madison, IN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 497 $86,875,000 $174,799
    Refi 494 $66,920,000 $135,466
    Cash Out Refi 249 $36,555,000 $146,807
    Other 91 $6,075,000 $66,758
    Home Improvement 81 $5,065,000 $62,531

    Madison's most frequently cited loan purpose was Home Purchase, with 497 originations. The 2nd most popular reason was Refi, with 494 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 455 $73,305,000 $161,110
    2.5-3% 431 $67,795,000 $157,297
    <2.5% 354 $40,870,000 $115,452
    4-5% 75 $8,195,000 $109,267
    5-6% 17 $1,105,000 $65,000
    6-7% 4 $350,000 $87,500
    7-8% 2 $50,000 $25,000
    Over 8% 1 $75,000 $75,000

    During 2021, Madison's most frequently originated rate bucket was 3-4%, with 455 originations.

    Loan Sizing (Madison, IN MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 660 $94,140,000 $142,636
    $100,000 or less 470 $28,820,000 $61,319
    $200k-400k 258 $66,280,000 $256,899
    $400k-600k 20 $8,850,000 $442,500
    $600k-1000k 3 $2,135,000 $711,667
    $Over $1MM 1 $1,265,000 $1,265,000

    Madison's loan sizing saw the bucket of loans from $100k-200k with 660 originations, totaling $94,140,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 440 $79,080,000 $179,727
    60-80% 386 $63,190,000 $163,705
    40-60% 208 $26,820,000 $128,942
    20-40% 152 $10,890,000 $71,645
    Under 20% 96 $2,860,000 $29,792
    Over 100% 7 $1,645,000 $235,000

    Madison's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 440 originations, totaling $79,080,000 in origination value.