From January through December of 2018, there were 513 homes sold, with a median sale price of $245,000 - a 2.3% increase over the $239,500 median sale price for the previous year. There were 532 homes sold in Farmington in 2017.
The median sales tax in Farmington for 2018 was $3,465. In 2014, the median sales tax was $2,592. This marks an increase of 33.7%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.4%.
The following table compares Farmington to other Dakota County cities with similar median sales prices in 2018:
| City | Jan. - Dec. 2018 Home Sales | Jan. - Dec. 2017 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2018 Median Sales Price | Jan. - Dec. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Lilydale | 19 | 10 | 90% | $280,000 | $307,000 | -8.8% |
| Rosemount | 425 | 419 | 1.4% | $265,000 | $251,000 | 5.6% |
| Eagan | 1,157 | 924 | 25.2% | $260,000 | $255,000 | 2% |
| Burnsville | 1,084 | 964 | 12.4% | $259,000 | $240,000 | 7.9% |
| Apple Valley | 1,028 | 1,005 | 2.3% | $250,000 | $227,000 | 10.1% |
| Farmington | 513 | 532 | -3.6% | $245,000 | $239,500 | 2.3% |
| Inver Grove Heights | 564 | 507 | 11.2% | $230,000 | $206,000 | 11.7% |
| Hastings | 505 | 479 | 5.4% | $217,000 | $198,000 | 9.6% |
| Hampton | 14 | 21 | -33.3% | $215,125 | $226,500 | -5% |
| West St. Paul | 315 | 311 | 1.3% | $211,000 | $195,000 | 8.2% |
| South St. Paul | 456 | 368 | 23.9% | $205,750 | $185,000 | 11.2% |
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