In 2011, homes continued to sell at a rate equal to in in Ham Lake, Minnesota; an area well known for its acreage properties. In this north and eastern Anoka County city, home sales were down just a few percent but with new listings down nearly 25% the absorption rate did not suffer. The average days on the market dropped by over 5% this year, from 176 to 166, which continues to level the playing field between buyers and sellers. The average price of a home sold did drop this year by roughly 8% from Just over $240K to $221,367. This also had a major affect on the price per square footage as it dropped from $100/sq ft to $88/sq ft which is similar to other areas in the north metro. Sellers seem to be negotiating more on acreage making this an opportunity for buyers to get out to an area where there is a bit more elbow room at an affordable price.
For additional details on the inventory levels in Ham Lake MN at the end of 2011, Click HERE.
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