From January through March of 2022, there were 62 homes sold, with a median sale price of $336,000 - a 13.7% increase over the $295,450 median sale price for the same period of the previous year. There were 72 homes sold in Farmington in the first quarter of 2021.
The median sales tax in Farmington for the most recent year with available data, 2020, was $3,822, approximately 1.1% of the median home sale price for the first quarter of 2022.
The following table compares Farmington to other Dakota County cities with similar median sale prices in the first quarter of 2022:
| City | Jan. - Mar. 2022 Home Sales | Jan. - Mar. 2021 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2022 Median Sales Price | Jan. - Mar. 2021 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Mendota Heights | 17 | 32 | -46.9% | $405,000 | $492,500 | -17.8% |
| Lilydale | 3 | 2 | 50% | $378,800 | $331,000 | 14.4% |
| Rosemount | 46 | 68 | -32.4% | $377,000 | $313,500 | 20.3% |
| Lakeville | 111 | 162 | -31.5% | $375,000 | $332,500 | 12.8% |
| Vermillion | 1 | 0 | - | $341,500 | $0 | - |
| Farmington | 62 | 72 | -13.9% | $336,000 | $295,450 | 13.7% |
| Eagan | 153 | 163 | -6.1% | $330,000 | $300,000 | 10% |
| Burnsville | 161 | 166 | -3% | $330,000 | $308,200 | 7.1% |
| Apple Valley | 139 | 154 | -9.7% | $328,000 | $254,000 | 29.1% |
| Northfield | 4 | 3 | 33.3% | $319,450 | $370,000 | -13.7% |
| Empire | 7 | 7 | 0% | $300,000 | $415,000 | -27.7% |
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