From July through December of 2019, there were three homes sold, with a median sale price of $738,000 - a 392% increase over the $150,000 median sale price for the same period of the previous year. There were two homes sold in Medicine Lake in the second half of 2018.
The median sales tax in Medicine Lake for the most recent year with available data, 2015, was $8,182, approximately 1.1% of the median home sale price for the second half of 2019.
The following table compares Medicine Lake to other Hennepin County cities with similar median sales prices in the second half of 2019:
| City | July - Dec. 2019 Home Sales | July - Dec. 2018 Home Sales | % change (Total Home Sales) | July - Dec. 2019 Median Sales Price | July - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Minnetonka Beach | 9 | 15 | -40% | $1,499,900 | $1,475,000 | 1.7% |
| Woodland | 5 | 9 | -44.4% | $1,175,000 | $1,300,000 | -9.6% |
| Greenwood | 5 | 9 | -44.4% | $1,070,000 | $1,905,177 | -43.8% |
| Orono | 92 | 108 | -14.8% | $750,000 | $609,700 | 23% |
| Medicine Lake | 3 | 2 | 50% | $738,000 | $150,000 | 392% |
| Deephaven | 49 | 47 | 4.3% | $675,000 | $920,000 | -26.6% |
| Wayzata | 38 | 45 | -15.6% | $666,000 | $732,100 | -9% |
| Excelsior | 15 | 15 | 0% | $600,000 | $480,000 | 25% |
| Edina | 377 | 408 | -7.6% | $574,500 | $530,000 | 8.4% |
| Medina | 65 | 69 | -5.8% | $573,015 | $615,000 | -6.8% |
| Spring Park | 12 | 9 | 33.3% | $572,450 | $371,500 | 54.1% |
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