Situated around 600m above sealevel on the central plateau, around 300Km from the north coast and nearly 400Km from the south coast, Madrid has a continental climate.
Temperatures quoted are the daily average (mean) figures but there will be a much greater difference between the maximum and minimum than there will be be nearer the coast.
There will be at least a chance of snow in the winter months.
The average rainfall for Madrid is 439mm or 17.3 inches (Source: World Climate), making it the driest area in Spain.
Daily average temperatures for Madrid
Source: World Climate