From January through March of 2019, there were three homes sold, with a median sale price of $167,000 - a 48% decrease over the $321,000 median sale price for the same period of the previous year. There were three homes sold in Vermillion in the first quarter of 2018, as well.
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 1.6%.
The following table compares Vermillion to other Dakota County cities with similar median sales prices in the first quarter of 2019:
| City | Jan. - Mar. 2019 Home Sales | Jan. - Mar. 2018 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2019 Median Sales Price | Jan. - Mar. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Randolph | 4 | 3 | 33.3% | $259,500 | $224,900 | 15.4% |
| Eureka Center | 4 | 0 | - | $256,000 | $0 | - |
| Apple Valley | 146 | 150 | -2.7% | $252,450 | $251,000 | 0.6% |
| Farmington | 82 | 79 | 3.8% | $245,000 | $223,500 | 9.6% |
| Empire | 6 | 8 | -25% | $242,400 | $278,250 | -12.9% |
| Inver Grove Heights | 69 | 87 | -20.7% | $214,500 | $230,000 | -6.7% |
| West St. Paul | 52 | 45 | 15.6% | $211,250 | $184,000 | 14.8% |
| South St. Paul | 85 | 68 | 25% | $209,900 | $198,450 | 5.8% |
| Hastings | 69 | 60 | 15% | $203,400 | $187,750 | 8.3% |
| Northfield | 5 | 3 | 66.7% | $180,800 | $390,740 | -53.7% |
| Vermillion | 3 | 3 | 0% | $167,000 | $321,000 | -48% |
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