From July through September of 2019, there were five homes sold, with a median sale price of $315,000 - a 6.9% increase over the $294,750 median sale price for the same period of the previous year. There were six homes sold in Vermillion in the third quarter of 2018.
The median sales tax in Vermillion for 2019 was $2,654. In 2018, the median sales tax was $2,613. This marks an increase of 1.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 0.8%.
The following table compares Vermillion to other Dakota County cities with similar median sales prices in the third quarter of 2019:
| City | July - Sept. 2019 Home Sales | July - Sept. 2018 Home Sales | % change (Total Home Sales) | July - Sept. 2019 Median Sales Price | July - Sept. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Randolph | 5 | 5 | 0% | $335,000 | $349,900 | -4.3% |
| Eureka Center | 4 | 1 | 300% | $323,500 | $250,000 | 29.4% |
| Lakeville | 305 | 333 | -8.4% | $320,000 | $295,000 | 8.5% |
| Northfield | 18 | 16 | 12.5% | $318,500 | $292,000 | 9.1% |
| Empire | 9 | 13 | -30.8% | $315,000 | $358,000 | -12% |
| Vermillion | 5 | 6 | -16.7% | $315,000 | $294,750 | 6.9% |
| Castle Rock | 3 | 6 | -50% | $310,000 | $284,500 | 9% |
| Eagan | 340 | 349 | -2.6% | $310,000 | $267,500 | 15.9% |
| Rosemount | 123 | 143 | -14% | $292,000 | $266,500 | 9.6% |
| Apple Valley | 320 | 319 | 0.3% | $280,000 | $245,000 | 14.3% |
| Hampton | 8 | 3 | 166.7% | $276,500 | $130,000 | 112.7% |
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