From January through June of 2018, there were two homes sold, with a median sale price of $612,223 - a 14.7% decrease over the $718,000 median sale price for the same period of the previous year. There were two homes sold in Medicine Lake in the first half of 2017, as well.
The median sales tax in Medicine Lake for the most recent year with available data, 2015, was $8,182, approximately 1.3% of the median home sale price for the first half of 2018.
The following table compares Medicine Lake to other Hennepin County cities with similar median sales prices in the first half of 2018:
| City | Jan. - June 2018 Home Sales | Jan. - June 2017 Home Sales | % change (Total Home Sales) | Jan. - June 2018 Median Sales Price | Jan. - June 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Minnetonka Beach | 6 | 5 | 20% | $970,000 | $1,640,000 | -40.9% |
| Greenwood | 11 | 6 | 83.3% | $875,000 | $1,150,000 | -23.9% |
| Orono | 92 | 104 | -11.5% | $723,050 | $526,250 | 37.4% |
| Medina | 72 | 60 | 20% | $650,427.50 | $629,750 | 3.3% |
| Wayzata | 41 | 32 | 28.1% | $625,000 | $594,048.75 | 5.2% |
| Medicine Lake | 2 | 2 | 0% | $612,223.43 | $718,000 | -14.7% |
| Hanover | 5 | 8 | -37.5% | $600,000 | $404,996 | 48.1% |
| Excelsior | 17 | 20 | -15% | $540,000 | $445,000 | 21.3% |
| Deephaven | 26 | 28 | -7.1% | $525,000 | $542,250 | -3.2% |
| Edina | 344 | 370 | -7% | $517,500 | $521,000 | -0.7% |
| Independence | 26 | 32 | -18.8% | $469,750 | $424,700 | 10.6% |
Alerts Sign-up