Saturday, April 12, 2008

Ham Lake, MN Real Estate Market Statistics 1st Quarter 2008

Even though existing single family home sales in Ham Lake, Minnesota remained sluggish during the first quarter of 2008, there were some indications of better days ahead. The Days on Market (DOM) statistic was reduced slightly from 220 to 214. Conversely, homes in the higher price categories have been worse than stagnant. There is a complete lack of any sales at all! Only 2 in pending and one sold in the over $400,000 price category all quarter. With over 60 listings currently on the market, Ham Lake is over saturated with high end homes.

Under $400,000 there is some good activity. Currently there is about 10 months of inventory in this price category which is similar to other communities in the north and east suburbs of the Twin Cities. And if you look just at the homes under $300,000 the inventory level is even more promising with approximately 8 months of inventory on the market.

This presents a great opportunity for the move up buyer. If you have a starter home in good condition and well priced, it should sell in a decent time frame. These buyers then have quite a selection of homes to chose from in the higher price categories. After 300+ days on the market, many sellers are waiting to negotiate with a strong, non-contingent buyer!

Additional 1st Quarter Ham Lake residential real estate statistics for single family homes:

Under $300,000~ 35 Active Listings, 2 Pending Listings, 13 Sold Listings, DOM 195 (All existing homes)

$300,000-400,000 ~ 27 Active Listings, 5 Pending Listings, 5 Sold Listings, DOM 301 (New Construction Subgroup ~ 3 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 27 Active Listings, 0 Pending Listings, 1 Sold Listings, DOM 163 (New Construction Subgroup ~ 4 Active, 2 Pending, 0 Sold)

$500,000 and Up~ 36 Active Listings, 0 Pending Listings, 0 Sold Listings, DOM n/a (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

Lakeshore available in the City of Ham Lake
5 Active Listings

Ham Lake lakeshore price range: $699,900-$1,450,000

2 Homes on Coon Lake
3 Homes on Lake Amelia

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 3/31/08.

Featured Listing in Ham Lake Minnesota: 15139 E Vermillion Circle NE

Articles on Ham Lake, Lakeshore and Minnesota that might be of interest:

Where's the Playground? A Key to Parks in Ham Lake Minnesota
What Makes a House a Home-Ham Lake, MN
Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"
Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!
Affordable Minnesota Lakeshore

If you are buying, selling or relocating to Ham Lake, Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.