Lake Elmo home prices rise in the first half of 2020

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The median sale price of a home sold in the first half of 2020 in Lake Elmo rose by $750 while total sales decreased by 5%, according to

From January through June of 2020, there were 38 homes sold, with a median sale price of $445,000 - a 0.2% increase over the $444,250 median sale price for the same period of the previous year. There were 40 homes sold in Lake Elmo in the first half of 2019.

The median sales tax in Lake Elmo for the most recent year with available data, 2015, was $3,756, approximately 0.8% of the median home sale price for the first half of 2020.

The following table compares Lake Elmo to other Washington County cities with similar median sales prices in the first half of 2020:

CityJan. - June 2020 Home SalesJan. - June 2019 Home Sales% change (Total Home Sales)Jan. - June 2020 Median Sales PriceJan. - June 2019 Median Sales Price% change (Median Sales Price)
Lakeland Shores17-85.7%$480,000$345,00039.1%
Lake Elmo3840-5%$445,000$444,2500.2%
Marine on St. Croix514-64.3%$420,000$270,25055.4%
St. Marys Point21100%$417,000$1,520,000-72.6%

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