Minnesota Real Estate Update: real estate statistics

Showing posts with label real estate statistics. Show all posts

Thursday, January 14, 2010

Year End 2009 Snapshot of Ham Lake, MN Home Sales Statistics

This past year homes sold in higher numbers but at lower prices in Ham Lake, Minnesota a community synonymous with acreage properties. In this eastern Anoka County city home sales were up a whopping 36.8% in 2009. No doubt the first time home buyer credit got things moving after 2 years of lackluster sales activity. New listings were down pretty significantly at 12.7% less than in the previous year showing progressive movement toward a balanced market. The average days on the market dropped a few days to just below from 184 to 176, which is not significant. The average price of a home sold did drop quite a bit again this year. It is 15.8% lower than in 2008, combine that with an 11.7% drop in 2007, Ham Lake values have decreased over 25% in two years. Sellers need to be aware that buyers are looking for and buying acreage homes but don’t want to pay 2003-2007 prices.

Looking for a breakdown of Ham Lake 2009 home sales by price point? CLICK HERE for Detailed Ham Lake Statistics

Friday, April 3, 2009

Ham Lake, MN Real Estate Market Statistics 1st Quarter 2009

Believe it or not, the unique Ham Lake name wasn't the first choice by the settler's to the area. Incorporated in 1974, Ham Lake became a city after over a hundred years of humble but steady growth. The area was first settled in 1855 by a group of Scottish men on the southwest side of Ham Lake. The original name of the community was Glen Carey, which is the Scottish translation of “beautiful valley”. Following a prairie fire in 1857, the first settlers moved but the community was resettled again. The new Scandinavian settlers had a hard time with the pronunciation of Glen Carey and soon the fledging community was known as Ham Lake...most probably because the lake in the area has a unique "ham-hock" shape. Anoka County officially was recognized Ham Lake as a township in 1871. In the early 1900’s Central Avenue (Highway 65) was a slow commute as it was a wagon trail through the sand and swampland. And we think going through stop light after stop light slows traffic. Though it was graveled and paved at some point, it 1954 before was expanded to four lanes.

Those four lanes are in full use now as more and more people look to buying acreage, executive, luxury and lakeshore homes in the Ham Lake area. The real estate market remains sluggish in Ham Lake, MN like many other Anoka County communities but some homes are selling. There are bright spots across the board with homes selling in all price categories under $400,000. However, new construction sales are at a standstill with zero homes sold in the first quarter of 2009. The average Cumulative Days-on-Market (CDOM) is up for the first quarter in Ham Lake at 249 days compared to 158 for all of 2008 but the numbers appear to be skewed this quarter by a couple of properties that lingered on the market for nearly two years.

Inventory is down in Ham Lake from the levels seen in 2008. There are currently 110 homes active on the market compared to 126 in January of 2008. Homes continue to take months to sell and there are more Ham Lake homes than Ham Lake buyers. Homeowners considering selling a home in the Ham Lake area must consider the average time to sell a home in the Twin Cities north metro is approximately 6-8 months. Right now inventory levels indicate there is about 24 months of inventory. Having your home properly priced and prepared for showings will be essential if planning to sell a home in this Anoka County community in 2009.

First Quarter 2009 Ham Lake residential real estate statistics for single family homes:

Under $200,000~ 35 Active Listings, 7 Pending Listings, 3 Sold Listings, CDOM 381 (All existing homes)

$200,000-300,000 ~ 31 Active Listings, 6 Pending Listings, 5 Sold Listings, CDOM 157 (New Construction Subgroup ~ 1 Active, 0 Pending, 0 Sold)

$300,000-400,000 ~ 29 Active Listings, 4 Pending Listings, 7 Sold Listings, CDOM 283 (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 15 Active Listings, 1 Pending Listings, 0 Sold Listings (New Construction Subgroup ~ 2 Active, 1 Pending, 0 Sold)

$500,000 and Up~ 20 Active Listings, 0 Pending Listings, 1 Sold Listings, CDOM 77 (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

Lakeshore available in the City of Ham Lake6 Active Listings

Ham Lake lakeshore price range: $235,000-$945,000

2 Homes on Coon Lake
2 Homes on Lake Amelia
2 Home on Little Coon Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/09.

Tuesday, January 27, 2009

Year End 2008 Snapshot of Blaine, MN Home Sales Statistics

The number of new listings has dropped significantly in Blaine, Minnesota right along with the average sales price. This is no doubt due to the fact that Blaine’s high valued home market in prices $500,000 and up is stagnant while the new townhomes and foreclosure/short sale homes in the lower price points continue to sell. Closed sales are up for Blaine in 2008 over 2007 so the market is moving. But listings are staying on the market for an average of almost a month longer than the previous year. Blaine still has an abundant home inventory and with prices down and sellers negotiating, this could be an affordable option for a north metro homebuyer!

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet or Homebuyers Success 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Thursday, January 22, 2009

Year End 2008 Snapshot of Centerville Market Statistics

The number of new listings is down in significantly in Centerville, Minnesota and surprisingly so it the average days on the market. Homes sold almost three weeks faster in 2008 than in 2007. Centerville home sellers are negotiating on prices as indicated by the ratio of original price to sold price being down under 90%. That is good news for buyers as combined with the average sales price being down a bit too, Centerville is looking like a very affordable place to call home!

Buying a Home? Check out my new HOME BUYER'S BLOG!

Year End 2008 Snapshot of Coon Rapids Market Statistics

Coon Rapids homes are selling a little slower this year than last but the total number of homes sold has remained about the same. There has been a good drop in new listings which helps to keep inventory levels down. The average sales price dropped by just under 15% so affordability is evident in Coon Rapids. The drop in the ratio of original price to received price is down which shows that sellers are negotiating. Though homes sold almost three weeks faster in 2007 than in 2008, the overall time on the market is still in line with neighboring communities.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Tuesday, January 20, 2009

Year End 2008 Snapshot of Chisago City, MN Home Sales Statistics

Closed sales and average sales price were down significantly for Chisago real estate in 2008 compared to statistics in 2007. New listings were down more than in other areas but so is the accepted sales price ratio compared to list price. At just over 89% it is one of the lowest in the north and east metro communities I work in. Though the market time is up, it is not significantly more than in neighboring communities. Buying a home in Chisago City would be a very affordable option as the sellers in this community seem prepared to make deals.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Year End 2008 Snapshot of East Bethel, MN Home Sales Statistics

While the number of closed sales was up, the average sales price was down significantly for homes in the East Bethel community in 2008 compared to statistics in 2007. Like in other areas, new listings were down too. At under 88%, the ratio comparing sold price to list price it is one of the lowest in the north and east metro communities I work in. Days on the market is also significantly longer as it took almost 6 weeks longer for an East Bethel home to sell in 2008 than in 2007.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Monday, January 19, 2009

Year End 2008 Snapshot of Linwood, MN Home Sales Statistics

The market of homes in Linwood, Minnesota took a hit in 2008. New listings were down. Closed Sales were down. And the average sales price was down. All significantly. The average sales price of a home dropped nearly 27%; from the around $250,000 to just over $185,000 compared to sales in 2007. This rural Anoka County community featuring acreage and lakeshore properties north of Columbus and south of Stacy, had a whopping increase in time on the market up nearly 24% from 2007 to 179 days on the market. Linwood is also experiencing one of the lowest ratios of sales price to list price meaning sellers in Linwood are negotiating to get their homes sold. With lower average sales prices, acreage and lakeshore homes are very affordable in Linwood right now!

Buying a Home? Check out my new HOME BUYER'S BLOG!

Year End 2008 Snapshot of Andover, MN Home Sales Statistics

The good news about Andover real estate in 2008 is that homes in Andover are selling once again. The statistic for closed sales shows the number of homes sold was up 16.6% in 2008 over the previous year. The bad news is that the average price has dropped significantly as well. An average sale in Andover is just under $250,000. This is probably due to the fact that fewer high valued homes are selling anywhere in the Twin Cities metro. Another trend for this Anoka County community is that time on the market has increased by over 20% with homes staying on the market an average of a month longer. This bodes well for home buyers as Andover affordability is way up! It would be a good time to consider a purchase as sellers are looking at continued competition with a steady amount of homes coming on to the market and longer market times.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Sunday, January 18, 2009

Year End 2008 Snapshot of Circle Pines, MN Home Sales Statistics

The number of new listings in Circle Pines dropped significantly i

n 2008 compared to the previous year. In this small Anoka County community, just north of Shoreview, home sales were a bit slower with 7 homes fewer sold but this represents almost an 11% drop statistically. The average time on the market did rise a bit but not significantly from 134 days to 141 days on the market. The average price also fell by over $12,000 which is 6.5% lower making this community that is full of starter homes even more affordable than last year. All in all, the home sales market in Circle Pines, Minnesota appears to be weathering the changed market well.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Year End 2008 Snapshot of Hugo, MN Home Sales Statistics

While the number of new listings, closed sales and average sales price for h

omes in Hugo, Minnesota dropped between 10-14% in 2008 compared to the previous year, the biggest change was in time on the market. In this northern Ramsey and Washington County community, just north of White Bear Lake, home sales were an average of 40 days longer than in 2007; up statically by nearly 47%! Gas prices and a devastating tornado may have played a role. With the lower average sales price of a home in Hugo at $236,517, down just over 13%, a first time homebuyer can consider this community an affordable option once again.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Friday, January 16, 2009

Year End 2008 Snapshot of White Bear Township, MN Home Sales Statistics

Home sales were pretty stable in White Bear Township, Minnesota in 2008

versus 2007. In this northern Ramsey County township has weathered 2008 much better than the neighboring City of White Bear Lake. Home sales dropped just 7.4% and the average sales price held at just over $265,000 down only 2.9%. The days-on-the-market (DOM) was up by only 3 days for the year. White Bear Township is fortunate to have experienced a somewhat stable market in 2008.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Year End 2008 Snapshot of White Bear Lake, MN Home Sales Statistics

Home sales took a bit of a hit in White

Bear Lake, Minnesota as home less homes closed for less dollars in 2008 versus 2007. In this Northern Ramsey County city home sales dropped just over 14% but inventory levels should stay the same as there were just over 13% newly listed homes too. The average sales price took a 20% hit as fewer homes over $250,000 are selling anywhere in the Twin Cities. Days on the market it up as it took over a month more time to sell a home in 2008 than in the previous year. With affordability up and prices and interest rates down, now is a great time to consider purchasing a White Bear Lake home.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Thursday, January 15, 2009

2008 Year End Snapshot of Columbus, MN Home Sales Statistics

Home sales did not fluctuate significantly in Columbus, Minnesota

which is well known for its acreage properties. In this Anoka County community, just west of Forest Lake, home sales were flat with only one additional home sold in 2008 over last year. There were only a few less homes listed so too and the average price of a home sold held relatively steady as well. Not all statistics were rosy for Columbus as it was taking significantly longer to sell a home in this community as compared to last year…over two months longer. All in all, the home sales market in Columbus, Minnesota appears relatively stable.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Wednesday, January 14, 2009

2008 Year End Snapshot of Wyoming, MN Home Sales Statistics

The number of new listings is down in Wyoming, Minnesota but so is the average sales price of a home in this community. It took and average of twenty extra days to sell a home in Wyoming, Minnesota compared to last year but the Days on Market Statistic is similar to other area communities.. The average sales price for a home is down just over 17% but on a positive note, this means affordability for home buyers is up as well. If you are a home buyer looking for the right time to buy a Wyoming, MN home, the time is now!

Buying a Home? Check out my new HOME BUYER'S BLOG!

Tuesday, January 13, 2009

2008 Year End Snapshot of Forest Lake MN Home Sales Statistics

It is not just your imagination; it is taking longer to sell a home in Forest Lake Minnesota. Compare year end figures from last year, it homes are taking an average of 30 days longer to sell in the community of Forest Lake. The average sales price for a home is down just over 9% but on a positive note, this means affordability for home buyers is up as well. If you are a home buyer looking for the right time to buy, the time is now!

Thursday, January 8, 2009

Forest Lake, MN Real Estate Market Statistics Year End 2008

Forest Lake, Minnesota is well known throughout the Twin Cities area. Many people from the city remember the northeast St. Paul suburb fondly from years gone by as a summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb. Though housing sales have slowed down considerably in many northern suburbs during the past few years due to continued concern of increased gas prices, Forest Lake is holding its own.

Real estate in Forest Lake, MN in north Washington County and east Anoka County continues to sell. A total of 125 single family homes were sold in Forest Lake and Forest Lake Township during 2008. The Cumulative Days on Market (CDOM) Statistic ran at 165 days for all homes sold during the year. In the first and second quarter the CDOM was well over 211-286, so at the end of the year homes started selling at a faster pace.

Not surprisingly, the price category of under $200,000 is the high point of the year. With 49 listings sold at an average CDOM of just under 4 months, it appears buyers are out there shopping for homes under $200K. It is a bit slower in the $200,000-300,000 category in this market, 6 months worth of inventory is very manageable.

All year, high end homes struggled for sales. In the second half of the year three times the number of homes sold in the $300,000-400,000 category than in the first six months. Sellers are becoming more realistic on pricing and inventory is starting to move. Homes over $500,000 have sales at a near standstill. Currently, the Forest Lake community sits with nearly 5 years of inventory in this price range and no relief appears to be in sight.

Great homes are currently on the market in Forest Lake at amazing prices; many are lakeshore and acreage properties. With this much inventory, sellers will need to be flexible on pricing. It might be the perfect time to negotiate a GREAT deal on a lakeshore home!

Lakeshore opportunities have been abundant in the Forest Lake area throughout 2008! There are more listings than ever before at incredible prices too! The inventory is awesome…40 lakeshore homes are currently active and some at attractive and affordable price points. Many have been on the market for several months. With the amazing low interest rates and few buyers looking at frozen lakeshore, it could be a great time to negotiate a deal on your piece of Minnesota shoreline!

Year End 2008 Forest Lake real estate statistics for single family homes:

Under $200,000~ 35 Active Listings, 8 Pending Listings, 49 Sold Listings, 118 CDOM (Lakeshore Subgroup ~ 0 Active, 2 Pending, 1 Sold)

$200,000-$300,000 ~ 35 Active Listings, 3 Pending Listings, 45 Sold Listings, 168 CDOM (Lakeshore Subgroup ~ 4 Active, 0 Pending, 2 Sold)

$300,000-$400,000 ~ 22 Active Listings, 1 Pending Listings, 19 Sold Listings, 240 CDOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 5 Sold)

$400,000-$500,000 ~ 10 Active Listings, 0 Pending Listings, 7 Sold Listing, 144 CDOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 2 Sold)

$500,000 and Up~ 27 Active Listings, 9 Pending Listings, 5 Sold Listings 349 CDOM (Lakeshore Subgroup ~ 24 Active, 0 Pending, 4 Sold)

Lakeshore available in the Forest Lake area:

47 Active Listings, 1 Pending Listings, 16 Sold Listings

Forest Lake lakeshore price range: $224,900-$2,100,000

35 Homes on Forest Lake
3 Homes on Clear Lake
1 Home on Shields Lake
1 Home on Howard Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/08 through 12/31/08.

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

Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!

Extremely Affordable Minnesota Lakeshore!

Relocating to Forest Lake MN? The Schools are Full of Ranger Pride!

Think Now is a GREAT Time to Make a DEAL on a MN Lakeshore Home? You Are SO Right!

Lakeshore Market Statistics for Forest Lake, MN—Clear Lake & Forest Lake Sales

Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"

Monday, October 6, 2008

Wyoming, MN Real Estate Market Statistics 3rd Quarter 2008

The City of Wyoming, Minnesota on the northeastern edge of the Twin Cities metropolitan area is a hidden gem! According to the city's website the town was named after the first settlers who in 1855 relocated from the Wyoming Valley in Pennsylvania. Wyoming boasts its own police and fire departments, city utilities, library, hospital, elementary school and several community parks. Neighborhood shopping is great with a cute coffee shop, drug store and grocery store in the heart of the town.

Activities are abundant in Wyoming. Not only is the center of the community located smack dab on the walking/biking/snowmobile trail that runs along Hwy 61, there is the new Stars and Strikes bowling, laser tag, restaurant and meeting facility too. Several great fishing lakes are nearby including, Forest Lake, Coon Lake and Comfort Lake. Hunting is a favorite activity of many Wyoming residents as areas of Carlos Avery State Wildlife Management area are within its border. Wyoming Elementary is an integral part of the Forest Lake District 831 school district which provides community sports and activities for individuals of all ages.

Commuting into St. Paul or Minneapolis is a breeze from Wyoming as most residences are a within 3-5 minute drive to I35. The city is just 3 miles north of Forest Lake which is home to the NEW Park and Ride lot for an express commute to downtown Minneapolis.

A good fall pumpkin crop isn't the only big surprise for Wyoming, MN. Real estate in southern Chisago County is finally selling at a pace similar to other areas in the metro. The cumulative Days on Market (DOM) Statistic for single family homes in Wyoming was 163 days or just over 5 months in the third quarter. This time frame is down significantly from the 7 months/214 DOM statistic in the first half of 2008.

Inventory levels are significantly lower in all price points which is a good indicator of a positive trend. Though the highest number of homes available is in price points under $300,000, this category is selling faster translating to about 10 months of inventory. But homes at higher price points still struggle for sales. A DOM of 74 days sounds great in the $400,000-$500,000 category but with only one sale, it is an anomaly. With inventory levels down and sales up, Wyoming is in a better position than it was earlier this year. Current numbers show about 11 months of inventory for Wyoming homes over $300,000, as compared with 4 years of inventory based on sales in the first half of the year.

The amazing deals on the homes in the Wyoming area reflect the changed market. The prices on many existing homes for sale in the Wyoming community have been priced aggressively to entice buyers to drive just a little further north.

Mid Year 2008 Wyoming residential real estate statistics for single family homes:

Under $300,000 ~ 38 Active Listings, 8 Pending Listings, 12 Sold Listings, 136 DOM

$300,000-$400,000 ~ 17 Active Listings, 1 Pending Listings, 5 Sold Listings, 302 DOM

$400,000-$500,000 ~ 1 Active Listings, 0 Pending Listings, 1 Sold Listing, 74 DOM

$500,000 and Up ~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings, N/A DOM

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7 /1/08 through 9/30/08.

Photo Featured Home in Wyoming MN:

25797 Freeport Avenue, Wyoming, MN 55092

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

If you are buying, selling or relocating to 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.

Copyright 2008 terieckholm.com

Friday, October 3, 2008

Circle Pines & Lexington, MN Real Estate Market Statistics 3rd Quarter 2008

Circle Pines is a small city, approximately 2 square miles, in Anoka County. The neighboring community, Lexington is even smaller encompassing less than one square mile of land. Both little communities are often overlooked since they are sandwiched between Blaine, Lino Lakes just to the north of Shoreview.

Circle Pines might be small but is thriving and has a unique history. According to Circle Pines and Lexington History, it was one of the first cooperative communities started in 1946 in an area between the townships of Blaine and Centerville in Southern Anoka County. According to the Circle Pines website, the symbol of the cooperative was a pine tree with a circle around it; thus the name Circle Pines. Though the unique development idea only lasted 3 years due to financial and leadership problems, the name remained. One benefit of its cooperative past is that Circle Pines is the only suburban city that operates its own natural-gas distribution company which serves part of Lino Lakes. The community is a part of the Centennial School District is home to Golden Lake and acres of wetlands.

Real estate in the communities of Circle Pines and Lexington is affordable and selling. Single family homes are affordable and tend to sell briskly compared with other communities in Anoka County. Single family homes are staying on the market an average of 115 CDOM (Cumulative Days on the Market.) Like neighboring areas, higher priced homes sales are stagnant or non-existent in the Circle Pines/Lexington community. The overall DOM is not affected too drastically as there are very few high price point homes in this area. Townhomes/condos are selling a bit more slowly with a 163 CDOM. Prices reductions on townhomes are drastic in this area due to the abundance of new construction in the neighboring community of Blaine. Amazing deals can be had for the astute first time condo home buyer.

2008 Mid Year Sales Statistics for Circle Pines/Lexington residential real estate statistics for single family homes:

Under $200,000~ 17 Active Listings, 2 Pending Listings, 12 Sold Listings, CDOM 124

$200,000-$300,000 ~ 9 Active Listings, 0 Pending Listings, 4 Sold Listings, CDOM 86

$300,000-$400,000 ~ 0 Active Listings, 0 Pending Listings, 0 Sold Listings, CDOM 265

$400,000-$500,000~ 2 Active Listings, 0 Pending Listings, 0 Sold Listings

$500,000 and Up ~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings

2008 Mid Year Sales Statistics for Circle Pines/Lexington residential real estate statistics for townhomes and condos:

Under $200,000~ 23 Active Listings, 1 Pending Listings, 8 Sold Listings, CDOM 163

$200,000-$300,000 ~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7/1/08 through 9/30/08.

Photo Featured Circle Pines Listing:
401 Village Parkway, Circle Pines, MN 55014

Other Listings in the Northern Metro:

Articles on Lakeshore and Minnesota that might be of interest:

Ham Lake, MN Real Estate Market Statistics 3rd Quarter 2008

As Ham Lake, Minnesota is a community without a hometown water tower, it could be easily overlooked by some traveling through Anoka County along Hwy 65. The approximately 13,000 residents of Ham Lake have always relied on private wells and septic systems, rather than city utilities. This is a plus to Ham Lakers as it helps to keep property taxes in check. Ham Lake is served by four school districts (Anoka Hennepin Dist 11, Forest Lake Dist 831, Centennial Dist 12 and St. Francis Dist 15). The suburb is a quick commute to either downtown via Lexington Avenue or Hwy 65 to 35W. Shopping is minutes away whether you head south to Blaine, East to Forest Lake and Lino Lakes, West to Andover or stay in town to shop at Soderquist’s. Ham Lake residents enjoy Minnesota’s many natural amenities with places like Coon Lake, Ham Lake and Carlos Avery Nature Preserve, there are many opportunities for outdoor sporting activities. Whether one is looking to hunt, fish, hike, snowmobile or just spend time enjoying natural beauty, Ham Lake offers abundant choices. It is a wonderful place to call home.

With three quarters of 2008 under our belts, some price points in the existing single family home sales in Ham Lake, Minnesota still are struggling but there have been sales and inventory reduction. The overall Days on Market (DOM) statistic has stayed pretty consistent with 210 days as compared to 214 in the first quarter and 217 in the second.

Specifically, homes in the under $300,000 price category show very good activity and at the current pace, we are looking at under a year’s worth of inventory. The numbers look similar in the $400,000-$500,000 category. But these numbers can be deceiving. The $300,000-$400,000 category showed great promise at the end of the second quarter with a reasonable 17 months of inventory but with few sales in the past three months, that pace has changed to well over 3 years!

There is a stormy outlook for sales of homes in the half million plus category. Now, three quarters through 2008, with a total of four homes sold, the forecast is grim. The only bright spot for the upper bracket price point is that inventory is down. At the end of June there were 67 active homes priced over half a million in Ham Lake. Today there are only 30 but with only 3 closed transactions this quarter it is apparent that a significant number of homeowners opted to take their listings off of the market. Even with the number of currently listed upper bracket homes cut in half, we are looking at several years before the entire inventory will be sold if sales continue at this snail’s pace.

New construction really suffered in the third quarter as only one new home was sold. At the beginning of the quarter there were 18 active new homes. Now that number has been cut in half but only one home sold. It appears that builders could be opting to use alternative sales methods to the MLS as these homes are no longer listed.

The excellent opportunity remains 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 choose from in the higher price categories. After 300+ days on the market, many homeowners and builders are ready to negotiate with a strong, non-contingent buyer!

Mid-Year Ham Lake residential real estate statistics for single family homes:

Under $300,000~ 47 Active Listings, 4 Pending Listings, 16 Sold Listings, DOM 113 (New Construction Subgroup ~ 0 Active, 0 Pending, 0 Sold)

$300,000-400,000 ~ 31 Active Listings, 3 Pending Listings, 2 Sold Listings, DOM 206 (New Construction Subgroup ~ 2 Active, 1 Pending, 0 Sold)

$400,000-500,000 ~ 11 Active Listings, 2 Pending Listings, 5 Sold Listings, DOM 187 (New Construction Subgroup ~ 2 Active, 1 Pending, 0 Sold)

$500,000 and Up~ 30 Active Listings, 1 Pending Listings, 3 Sold Listings, DOM 379 (New Construction Subgroup ~ 5 Active, 1 Pending, 1 Sold)

Lakeshore available in the City of Ham Lake
7 Active Listings

Ham Lake lakeshore price range: $299,900-$945,000

2 Home on Coon Lake
2 Home on Lake Amelia
3 Home on Little Coon Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7/1/08 through 9/30/08.

Photo Featured Listing in Ham Lake Minnesota: 15139 E Vermillion Circle NE, 55304

Other Anoka and Chisago County Listings:401 Village Parkway, Circle Pines, MN 55014
25797 Freeport Avenue, Wyoming, MN 55092

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

Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!

EXTREMELY Affordable Minnesota Lakeshore!

Disclaimer

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