Lake Elmo home prices rise in October 2020

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The median sale price of a home sold in October 2020 in Lake Elmo rose by $33,000 while total sales increased by 66.7%, according to

In October 2020, there were five homes sold, with a median sale price of $503,000 - a 7% increase over the $470,000 median sale price for the same period of the previous year. There were three homes sold in Lake Elmo in October 2019.

The median sales tax in Lake Elmo for the most recent year with available data, 2015, was $3,756, approximately 0.7% of the median home sale price for October 2020.

The following table compares Lake Elmo to other Washington County cities with similar median sales prices in October 2020:

CityOct. 2020 Home SalesOct. 2019 Home Sales% change (Total Home Sales)Oct. 2020 Median Sales PriceOct. 2019 Median Sales Price% change (Median Sales Price)
Birchwood Village10-$790,000$0-
Lake Elmo5366.7%$503,000$470,0007%
Cottage Grove2440-40%$292,800$273,0007.3%

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