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Why Live in Madison
Madison, located in Lake County, South Dakota, is a small city known as "the Heart of the Prairie," situated between Lake Madison and Lake Herman, approximately 50 miles northwest of Sioux Falls. With a population of about 6,200, Madison is home to Dakota State University, which significantly influences the local culture and economy. The city features a mix of vintage architecture, ranch-style homes, and contemporary residences, with newer twin homes in the northeast. Madison's downtown along Egan Avenue hosts small businesses, dining options like Prime Time Tavern and Los Tapatios, and entertainment venues such as Dakota Cinema. The city offers various community events, including the MadTown summer series and the Prairie Village Steam Threshing Jamboree. Outdoor amenities include Baughman/Belatti Park, the Gerry Maloney Nature Area, and the Madison Aquatic Center. Nearby Lake Herman State Park and Walker's Point Recreation Area provide opportunities for biking, birdwatching, and boating. Madison's public schools on Ninth Street receive high ratings, and the city also has private school options. The DSU campus offers public amenities like the Madison Community Center and the Dakota Prairie Playhouse. Madison is accessible via State Route 34, U.S. Route 81, and State Route 19, with East Dakota Transit Inc. providing shuttle services.
Home Prices in Madison, SD
The median home sale price in Madison, SD is $238,000, down 8% year-over-year. Homes in Madison sell in 64 days on average, compared to the national average of 58 days.
Home Price Trends
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Median Sale Price
$238,000
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Median Single Family Sale Price
$243,700
|
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Median Townhouse Sale Price
$272,000
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Median 2 Bedroom Sale Price
$182,450
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Median 1 Bedroom Sale Price
$368,000
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Average Price Per Sq Ft
$158
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Number of Homes for Sale
22
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Last 12 months Home Sales
94
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Months of Supply
2.80
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Median List Price
$249,800
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Median Change From 1st List Price
4%
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Median Home Sale Price YoY Change
-8%
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