From January through December of 2018, there were 1,097 homes sold, with a median sale price of $296,000 - a 6.3% increase over the $278,500 median sale price for the previous year. There were 991 homes sold in Lakeville in 2017.
The median sales tax in Lakeville for 2018 was $3,435. In 2014, the median sales tax was $2,779. This marks an increase of 23.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.2%.
The following table compares Lakeville 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) |
|---|---|---|---|---|---|---|
| Eureka Center | 8 | 13 | -38.5% | $311,500 | $320,000 | -2.7% |
| Castle Rock | 21 | 18 | 16.7% | $310,000 | $300,000 | 3.3% |
| Vermillion | 15 | 16 | -6.3% | $305,000 | $254,000 | 20.1% |
| Waterford | 3 | 3 | 0% | $299,878 | $240,200 | 24.8% |
| Randolph | 19 | 15 | 26.7% | $298,000 | $339,000 | -12.1% |
| Lakeville | 1,097 | 991 | 10.7% | $296,000 | $278,500 | 6.3% |
| Northfield | 37 | 53 | -30.2% | $290,000 | $250,000 | 16% |
| Empire | 45 | 46 | -2.2% | $285,000 | $269,000 | 5.9% |
| 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% |
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