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
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 FREE 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..JPG)
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Copyright 2012 Teri Eckholm http://www.terieckholm.com/
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Teri It is surprising that with inventory down prices are as well - that has got to change soon I would think
Karen--I would hope so too...maybe now more traditional sellers will get their homes sold so some of the upper bracket homes could go. This past year it was pretty much homes under $200K selling while the median home value in the area is much higher...but very few homes over $400K sold so there was nothing to balance the market value.