From January through December of 2018, there were four homes sold, with a median sale price of $273,500 - a 34.1% decrease over the $415,000 median sale price for the previous year. There were three homes sold in Medicine Lake in 2017.
The median sales tax in Medicine Lake for the most recent year with available data, 2015, was $8,182, approximately 3% of the median home sale price for 2018.
The following table compares Medicine Lake to other Hennepin County cities with similar median sales prices in 2018:
| City | Jan. - Dec. 2018 Home Sales | Jan. - Dec. 2017 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2018 Median Sales Price | Jan. - Dec. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Maple Grove | 1,169 | 1,113 | 5% | $303,000 | $285,000 | 6.3% |
| Long Lake | 30 | 31 | -3.2% | $300,000 | $303,000 | -1% |
| Spring Park | 13 | 14 | -7.1% | $300,000 | $414,275 | -27.6% |
| St. Louis Park | 848 | 685 | 23.8% | $300,000 | $275,000 | 9.1% |
| Hopkins | 213 | 221 | -3.6% | $274,495 | $248,000 | 10.7% |
| Medicine Lake | 4 | 3 | 33.3% | $273,500 | $415,000 | -34.1% |
| Bloomington | 1,214 | 1,064 | 14.1% | $268,000 | $255,200 | 5% |
| Champlin | 345 | 326 | 5.8% | $255,000 | $242,500 | 5.2% |
| Minneapolis | 5,952 | 5,224 | 13.9% | $255,000 | $237,000 | 7.6% |
| Mound | 221 | 243 | -9.1% | $255,000 | $240,000 | 6.3% |
| Loretto | 15 | 12 | 25% | $253,000 | $265,000 | -4.5% |
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