Madison, Connecticut - Median Sale Price of Single Family Homes

The median sales price of single-family homes in Madison continued to shift lower throughout 2006 and the number of homes sold also dropped substantially. Around 290 homes sold annually between '01-'04 before slipping 9% in 2005 and sliding down 14% last year. We are noticing an adjustment in what the consumer is buying, lower and mid-priced homes are selling while potential buyers of the massive McMansions play a waiting game to see if price drops forecast by the media materialize.