From July through December of 2018, there were 561 homes sold, with a median sale price of $294,350 - a 5% increase over the $280,330 median sale price for the same period of the previous year. There were 501 homes sold in Lakeville in the second half of 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 the second half of 2018:
| City | July - Dec. 2018 Home Sales | July - Dec. 2017 Home Sales | % change (Total Home Sales) | July - Dec. 2018 Median Sales Price | July - Dec. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Mendota Heights | 107 | 95 | 12.6% | $330,000 | $365,000 | -9.6% |
| Randolph | 10 | 7 | 42.9% | $317,500 | $339,000 | -6.3% |
| Castle Rock | 13 | 9 | 44.4% | $300,000 | $315,000 | -4.8% |
| Vermillion | 7 | 6 | 16.7% | $299,500 | $232,500 | 28.8% |
| Empire | 28 | 20 | 40% | $294,500 | $248,000 | 18.8% |
| Lakeville | 561 | 501 | 12% | $294,350 | $280,330 | 5% |
| Northfield | 23 | 29 | -20.7% | $290,000 | $300,000 | -3.3% |
| Rosemount | 237 | 221 | 7.2% | $275,000 | $261,000 | 5.4% |
| Eagan | 590 | 472 | 25% | $270,000 | $260,000 | 3.8% |
| Eureka Center | 4 | 6 | -33.3% | $267,500 | $322,500 | -17.1% |
| Burnsville | 581 | 493 | 17.8% | $258,000 | $244,000 | 5.7% |
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