From January through December of 2020, there were 81 homes sold, with a median sale price of $480,000 - a 3.1% increase over the $465,500 median sale price for the previous year. There were 82 homes sold in Lake Elmo in 2019.
The median sales tax in Lake Elmo for 2020 was $4,272. In 2019, the median sales tax was $4,225. This marks an increase of 1.1%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 0.9%.
The following table compares Lake Elmo to other Washington County cities with similar median sale prices in 2020:
| City | Jan. - Dec. 2020 Home Sales | Jan. - Dec. 2019 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2020 Median Sales Price | Jan. - Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Lakeland Shores | 2 | 9 | -77.8% | $1,052,500 | $345,000 | 205.1% |
| Dellwood | 7 | 16 | -56.3% | $715,000 | $725,000 | -1.4% |
| Grant | 42 | 57 | -26.3% | $557,500 | $560,000 | -0.4% |
| Afton | 42 | 35 | 20% | $542,500 | $500,000 | 8.5% |
| Hastings | 10 | 14 | -28.6% | $508,000 | $558,750 | -9.1% |
| Lake Elmo | 81 | 82 | -1.2% | $480,000 | $465,500 | 3.1% |
| St. Marys Point | 3 | 2 | 50% | $450,000 | $855,500 | -47.4% |
| Marine on St. Croix | 6 | 21 | -71.4% | $397,302.50 | $290,000 | 37% |
| Birchwood Village | 11 | 25 | -56% | $376,000 | $363,974.99 | 3.3% |
| Scandia | 41 | 48 | -14.6% | $375,000 | $357,500 | 4.9% |
| Mahtomedi | 89 | 114 | -21.9% | $367,500 | $366,500 | 0.3% |
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