In July 2019, there were 62 homes sold, with a median sale price of $277,500 - a 10.4% increase over the $251,360 median sale price for the same period of the previous year. There were 44 homes sold in Farmington in July 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 July 2019:
| City | July 2019 Home Sales | July 2018 Home Sales | % change (Total Home Sales) | July 2019 Median Sales Price | July 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Eureka Center | 1 | 0 | - | $315,000 | $0 | - |
| Northfield | 13 | 7 | 85.7% | $308,000 | $250,000 | 23.2% |
| Eagan | 129 | 98 | 31.6% | $305,000 | $269,447.50 | 13.2% |
| Rosemount | 53 | 40 | 32.5% | $298,700 | $250,500 | 19.2% |
| Apple Valley | 128 | 85 | 50.6% | $281,500 | $274,900 | 2.4% |
| Farmington | 62 | 44 | 40.9% | $277,500 | $251,359.79 | 10.4% |
| Hampton | 6 | 1 | 500% | $274,000 | $268,000 | 2.2% |
| Inver Grove Heights | 61 | 50 | 22% | $270,000 | $224,900 | 20.1% |
| Burnsville | 107 | 99 | 8.1% | $270,000 | $254,000 | 6.3% |
| Vermillion | 1 | 1 | 0% | $250,000 | $233,000 | 7.3% |
| West St. Paul | 30 | 22 | 36.4% | $243,500 | $242,500 | 0.4% |
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