From January through December of 2019, there were 941 homes sold, with a median sale price of $307,500 - a 3.9% increase over the $296,000 median sale price for the previous year. There were 1,097 homes sold in Lakeville in 2018.
The median sales tax in Lakeville for 2019 was $3,651. In 2018, the median sales tax was $3,435. This marks an increase of 6.3%. 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 2019:
| City | Jan. - Dec. 2019 Home Sales | Jan. - Dec. 2018 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2019 Median Sales Price | Jan. - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Mendota Heights | 188 | 209 | -10% | $409,250 | $361,500 | 13.2% |
| Lilydale | 19 | 19 | 0% | $340,000 | $280,000 | 21.4% |
| Eureka Center | 15 | 8 | 87.5% | $332,000 | $311,500 | 6.6% |
| Randolph | 17 | 19 | -10.5% | $326,500 | $298,000 | 9.6% |
| Empire | 33 | 45 | -26.7% | $310,000 | $285,000 | 8.8% |
| Lakeville | 941 | 1,097 | -14.2% | $307,500 | $296,000 | 3.9% |
| Waterford | 2 | 3 | -33.3% | $302,624 | $299,878 | 0.9% |
| Eagan | 1,050 | 1,157 | -9.2% | $295,000 | $260,000 | 13.5% |
| Castle Rock | 8 | 21 | -61.9% | $292,500 | $310,000 | -5.6% |
| Rosemount | 433 | 425 | 1.9% | $280,000 | $265,000 | 5.7% |
| Hampton | 16 | 14 | 14.3% | $272,500 | $215,125 | 26.7% |
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