From January through June of 2019, there were 245 homes sold, with a median sale price of $256,000 - a 5.8% increase over the $242,000 median sale price for the same period of the previous year. There were 228 homes sold in Farmington in the first half of 2018.
The median sales tax in Farmington for 2019 was $3,656. In 2018, the median sales tax was $3,465. This marks an increase of 5.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.4%.
The following table compares Farmington to other Dakota County cities with similar median sales prices in the first half of 2019:
| City | Jan. - June 2019 Home Sales | Jan. - June 2018 Home Sales | % change (Total Home Sales) | Jan. - June 2019 Median Sales Price | Jan. - June 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Randolph | 10 | 8 | 25% | $288,500 | $268,750 | 7.3% |
| Rosemount | 222 | 174 | 27.6% | $275,000 | $259,950 | 5.8% |
| Apple Valley | 437 | 428 | 2.1% | $263,900 | $255,500 | 3.3% |
| Hampton | 5 | 5 | 0% | $261,000 | $215,000 | 21.4% |
| Burnsville | 417 | 449 | -7.1% | $260,000 | $260,000 | 0% |
| Farmington | 245 | 228 | 7.5% | $256,000 | $242,000 | 5.8% |
| Inver Grove Heights | 216 | 254 | -15% | $249,950 | $226,625 | 10.3% |
| Vermillion | 6 | 7 | -14.3% | $242,875 | $320,000 | -24.1% |
| Hastings | 203 | 220 | -7.7% | $229,400 | $217,250 | 5.6% |
| West St. Paul | 150 | 127 | 18.1% | $220,250 | $210,000 | 4.9% |
| South St. Paul | 195 | 196 | -0.5% | $217,000 | $205,500 | 5.6% |
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