Madison Mortgage Rates & Closing Costs

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.