From January through December of 2019, there were seven homes sold, with a median sale price of $875,000 - a 219.9% increase over the $273,500 median sale price for the previous year. There were four homes sold in Medicine Lake in 2018.
The median sales tax in Medicine Lake for the most recent year with available data, 2015, was $8,182, approximately 0.9% of the median home sale price for 2019.
The following table compares Medicine Lake to other Hennepin County cities with similar median sales prices in 2019:
| City | Jan. - Dec. 2019 Home Sales | Jan. - Dec. 2018 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2019 Median Sales Price | Jan. - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Minnetonka Beach | 11 | 21 | -47.6% | $1,610,000 | $1,208,500 | 33.2% |
| Woodland | 12 | 13 | -7.7% | $1,075,000 | $1,300,000 | -17.3% |
| Greenwood | 11 | 21 | -47.6% | $960,000 | $1,020,000 | -5.9% |
| Medicine Lake | 7 | 4 | 75% | $875,000 | $273,500 | 219.9% |
| Orono | 178 | 211 | -15.6% | $697,000 | $670,000 | 4% |
| Deephaven | 84 | 80 | 5% | $655,500 | $675,000 | -2.9% |
| Tonka Bay | 22 | 30 | -26.7% | $635,000 | $675,000 | -5.9% |
| Wayzata | 77 | 91 | -15.4% | $607,000 | $720,000 | -15.7% |
| Medina | 122 | 149 | -18.1% | $591,151.50 | $650,000 | -9.1% |
| Spring Park | 16 | 13 | 23.1% | $572,450 | $300,000 | 90.8% |
| Edina | 733 | 804 | -8.8% | $555,000 | $520,000 | 6.7% |
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