Farmington home prices rise in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Farmington rose by $31,500 while total sales decreased by 40.2%, according to BlockShopper.com.

From July through September of 2020, there were 98 homes sold, with a median sale price of $303,500 - a 11.6% increase over the $272,000 median sale price for the same period of the previous year. There were 164 homes sold in Farmington in the third quarter of 2019.

The median sales tax in Farmington for the most recent year with available data, 2019, was $3,656, approximately 1.2% of the median home sale price for the third quarter of 2020.

The following table compares Farmington to other Dakota County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Nininger42100%$382,500$452,500-15.5%
Lakeville222305-27.2%$343,750$320,0007.4%
Eagan184340-45.9%$325,000$310,0004.8%
Vermillion550%$320,000$315,0001.6%
Rosemount96123-22%$306,100$292,0004.8%
Farmington98164-40.2%$303,500$272,00011.6%
Burnsville211300-29.7%$298,000$275,0008.4%
Northfield718-61.1%$265,000$318,500-16.8%
Inver Grove Heights89144-38.2%$265,000$262,7500.9%
Hastings91139-34.5%$260,000$239,9008.4%
Apple Valley166320-48.1%$259,000$280,000-7.5%

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