From October through December of 2020, there were 52 homes sold, with a median sale price of $300,000 - a 14.3% increase over the $262,450 median sale price for the same period of the previous year. There were 62 homes sold in Forest Lake in the fourth quarter of 2019.
The median sales tax in Forest Lake for 2020 was $3,130. In 2019, the median sales tax was $3,002. This marks an increase of 4.3%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1%.
The following table compares Forest Lake to other Washington County cities with similar median sale prices in the fourth quarter of 2020:
| City | Oct. - Dec. 2020 Home Sales | Oct. - Dec. 2019 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2020 Median Sales Price | Oct. - Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Scandia | 11 | 14 | -21.4% | $415,000 | $350,000 | 18.6% |
| Mahtomedi | 15 | 18 | -16.7% | $381,000 | $365,450 | 4.3% |
| Stillwater | 53 | 90 | -41.1% | $367,500 | $340,000 | 8.1% |
| Woodbury | 192 | 242 | -20.7% | $352,500 | $300,000 | 17.5% |
| Hastings | 2 | 5 | -60% | $330,000 | $575,000 | -42.6% |
| Forest Lake | 52 | 62 | -16.1% | $300,000 | $262,450 | 14.3% |
| Cottage Grove | 103 | 107 | -3.7% | $295,000 | $270,000 | 9.3% |
| Hugo | 44 | 50 | -12% | $287,500 | $220,000 | 30.7% |
| Willernie | 1 | 1 | 0% | $273,301 | $415,000 | -34.1% |
| Oak Park Heights | 12 | 18 | -33.3% | $268,000 | $252,500 | 6.1% |
| Newport | 7 | 7 | 0% | $262,000 | $250,000 | 4.8% |
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