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.
Copyright 2008 Teri Eckholm http://www.terieckholm.com/ ******************************************************************************************************LIKE MY BLOG? Subscribe and let me email you an update!
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Dedication to customer service has made Teri Eckholm/Keller Williams Premier the Realtor® of choice for families in Blaine, Forest Lake, Ham Lake, Lino Lakes and Wyoming areas. Licensed in MN.
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Nice market update Teri, keeping buyers and sellers informed with critical market data is why they seek you out. Great information.
Gary--Thanks!! Timely sales statistics seems to be information that both buyers and sellers are searching for.
Love you blog Teri. You do a great job. It is fun to see what is going on out there in your world.
Hi Teri, it looks like Spring and the warm beautiful weather is just what your area needs. Sales seem to be concentrated in the lower price ranges. I'll be you will see a real pick up in the other prices ranges in the weeks and months ahead. My prediction is that we are going to come out of this slower market cycle sooner than the predictions
Pat--Thanks!! Every community is so different. Even throughout the Twin Cities there is differences in the market. Visiting actual market reports from across the US gives people a more accurate perspective that just looking at information given out by the media.
William--We certainly do! Another blast of winter hit this weekend but beautiful spring days should finally be here next week according to the forecast. That sun makes all homes look bright and inviting...Makes people want to move! As for price ranges, there are communities closer in to the downtown areas that have seen some movement in the 300K to 400K range. It will take a bit longer for the outlying areas to catch up...There were too many of these homes built in a short period of time in the north metro. These numbers do not include the lots that builders are holding for new construction either. Lots of opportunities as the lower priced homes sell. We are starting to turn the corner but it will take time.
Teri, love your tree - even without leaves. Great stats of your area! ;-) Today it got HOT here, 94 or so. I love the 80's, so hope it will return to those temps before it heads into the triple digits. ;-)
Teri--The leaves will be sprouting soon...It has been a slow spring this year (this photo I took last spring). We don't have any green yet but soon. We are going to get into the 70's today for the first time...Perfect weather 70-80 degrees. I love spring!
Teri, I had recently talked with investors from Minnesota and they said the same thing you did. That the higher end homes were moving slow. I hope the economy turns around eventually and that segment will start moving for you again.
Gary--It is a tough segment of our market. Homes have started to move in the lower price points...under $250K is best as there seems to be a number of first time buyers getting out buying but that $350K market is tough as there are so many homes on the market. Unless it is lakeshore or acreage, there are literally dozens of excellent choices including new construction. Buyers certainly have an awesome selection!