From January through March of 2020, there were three homes sold, with a median sale price of $574,000 - a 48.1% decrease over the $1,105,000 median sale price for the same period of the previous year. There were three homes sold in Medicine Lake in the first quarter of 2019, as well.
The median sales tax in Medicine Lake for the most recent year with available data, 2019, was $10,796, approximately 1.9% of the median home sale price for the first quarter of 2020.
The following table compares Medicine Lake to other Hennepin County cities with similar median sales prices in the first quarter of 2020:
| City | Jan. - Mar. 2020 Home Sales | Jan. - Mar. 2019 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2020 Median Sales Price | Jan. - Mar. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Deephaven | 11 | 9 | 22.2% | $703,800 | $651,000 | 8.1% |
| Spring Park | 4 | 1 | 300% | $664,250 | $630,000 | 5.4% |
| Excelsior | 5 | 5 | 0% | $658,500 | $595,000 | 10.7% |
| Tonka Bay | 3 | 5 | -40% | $640,000 | $680,000 | -5.9% |
| Independence | 7 | 14 | -50% | $615,000 | $375,000 | 64% |
| Medicine Lake | 3 | 3 | 0% | $574,000 | $1,105,000 | -48.1% |
| Medina | 23 | 23 | 0% | $552,000 | $600,000 | -8% |
| Edina | 108 | 120 | -10% | $526,500 | $524,500 | 0.4% |
| Shorewood | 25 | 29 | -13.8% | $490,000 | $490,000 | 0% |
| Minnetrista | 34 | 42 | -19% | $474,325 | $453,450 | 4.6% |
| Minnetonka | 128 | 138 | -7.2% | $427,000 | $370,000 | 15.4% |
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