In December 2020, there were four homes sold, with a median sale price of $447,500 - a 36.3% decrease over the $702,500 median sale price for the same period of the previous year. There were four homes sold in Lake Elmo in December 2019, as well.
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 1%.
The following table compares Lake Elmo to other Washington County cities with similar median sale prices in December 2020:
| City | Dec. 2020 Home Sales | Dec. 2019 Home Sales | % change (Total Home Sales) | Dec. 2020 Median Sales Price | Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Mahtomedi | 3 | 3 | 0% | $460,000 | $360,000 | 27.8% |
| Lake Elmo | 4 | 4 | 0% | $447,500 | $702,500 | -36.3% |
| Grant | 1 | 2 | -50% | $425,000 | $680,000 | -37.5% |
| Bayport | 2 | 3 | -33.3% | $413,333.33 | $235,000 | 75.9% |
| Woodbury | 58 | 59 | -1.7% | $367,500 | $320,000 | 14.8% |
| Stillwater | 11 | 25 | -56% | $341,000 | $315,000 | 8.3% |
| St. Paul Park | 3 | 4 | -25% | $340,000 | $231,000 | 47.2% |
| Forest Lake | 14 | 20 | -30% | $335,500 | $264,950 | 26.6% |
| Afton | 2 | 1 | 100% | $325,000 | $506,000 | -35.8% |
| Newport | 2 | 4 | -50% | $316,000 | $300,500 | 5.2% |
| Cottage Grove | 30 | 31 | -3.2% | $315,000 | $274,900 | 14.6% |
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