In August 2019, there were 59 homes sold, with a median sale price of $289,255 - a 13.4% increase over the $255,000 median sale price for the same period of the previous year. There were 61 homes sold in Farmington in August 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 1.3%.
The following table compares Farmington to other Dakota County cities with similar median sales prices in August 2019:
| City | Aug. 2019 Home Sales | Aug. 2018 Home Sales | % change (Total Home Sales) | Aug. 2019 Median Sales Price | Aug. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Vermillion | 4 | 3 | 33.3% | $382,500 | $299,500 | 27.7% |
| Lakeville | 119 | 121 | -1.7% | $315,000 | $307,500 | 2.4% |
| Eagan | 120 | 116 | 3.4% | $310,500 | $263,750 | 17.7% |
| Castle Rock | 1 | 4 | -75% | $310,000 | $310,000 | 0% |
| Northfield | 4 | 6 | -33.3% | $302,000 | $246,950 | 22.3% |
| Farmington | 59 | 61 | -3.3% | $289,255 | $255,000 | 13.4% |
| Burnsville | 116 | 113 | 2.7% | $285,000 | $276,000 | 3.3% |
| Rosemount | 39 | 41 | -4.9% | $284,000 | $249,500 | 13.8% |
| Apple Valley | 118 | 117 | 0.9% | $281,750 | $233,000 | 20.9% |
| Hampton | 1 | 2 | -50% | $279,025 | $75,000 | 272% |
| Lilydale | 4 | 1 | 300% | $269,000 | $586,000 | -54.1% |
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