From January through June of 2017, there were eight homes sold, with a median sale price of $120,000 - a 66.7% increase over the $72,000 median sale price for the same period of the previous year. There were seven homes sold in Colfax in the first half of 2016.
The median sales tax in Colfax for 2017 was $1,613. In 2016, the median sales tax was $1,596. This marks an increase of 1.1%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.3%.
The following table compares Colfax to other McLean County cities with similar median sales prices in the first half of 2017:
| City | Jan. - June 2017 Home Sales | Jan. - June 2016 Home Sales | % change (Total Home Sales) | Jan. - June 2017 Median Sales Price | Jan. - June 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Heyworth | 17 | 23 | -26.1% | $145,000 | $135,500 | 7% |
| Downs | 10 | 12 | -16.7% | $143,750 | $167,750 | -14.3% |
| Carlock | 4 | 1 | 300% | $129,750 | $101,000 | 28.5% |
| Lexington | 27 | 17 | 58.8% | $125,000 | $102,000 | 22.5% |
| Danvers | 16 | 14 | 14.3% | $121,000 | $108,450 | 11.6% |
| Colfax | 8 | 7 | 14.3% | $120,000 | $72,000 | 66.7% |
| Gridley | 14 | 13 | 7.7% | $118,500 | $105,000 | 12.9% |
| McLean | 4 | 5 | -20% | $113,750 | $75,000 | 51.7% |
| Bellflower | 3 | 3 | 0% | $107,000 | $70,000 | 52.9% |
| Towanda | 7 | 8 | -12.5% | $107,000 | $129,000 | -17.1% |
| Chenoa | 16 | 15 | 6.7% | $101,000 | $78,000 | 29.5% |
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