In August 2018, there were 121 homes sold, with a median sale price of $307,500 - a 1.8% increase over the $302,000 median sale price for the same period of the previous year. There were 107 homes sold in Lakeville in August 2017.
The median sales tax in Lakeville for 2018 was $3,435. In 2014, the median sales tax was $2,779. This marks an increase of 23.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.1%.
The following table compares Lakeville to other Dakota County cities with similar median sales prices in August 2018:
| City | Aug. 2018 Home Sales | Aug. 2017 Home Sales | % change (Total Home Sales) | Aug. 2018 Median Sales Price | Aug. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Lilydale | 1 | 0 | - | $586,000 | $0 | - |
| Sunfish Lake | 1 | 0 | - | $523,900 | $0 | - |
| Randolph | 3 | 1 | 200% | $432,500 | $410,000 | 5.5% |
| Mendota Heights | 30 | 13 | 130.8% | $325,000 | $410,000 | -20.7% |
| Castle Rock | 4 | 1 | 300% | $310,000 | $60,000 | 416.7% |
| Lakeville | 121 | 107 | 13.1% | $307,500 | $302,000 | 1.8% |
| Vermillion | 3 | 1 | 200% | $299,500 | $255,000 | 17.5% |
| Empire | 2 | 4 | -50% | $286,950 | $353,700 | -18.9% |
| Burnsville | 113 | 95 | 18.9% | $276,000 | $253,700 | 8.8% |
| Inver Grove Heights | 43 | 68 | -36.8% | $265,000 | $213,000 | 24.4% |
| Eagan | 116 | 94 | 23.4% | $263,750 | $274,000 | -3.7% |
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