Mid Year 2012 Real Estate Market Statistics for Ham Lake, MN

Homes were moving in 2012 in the City of Ham Lake once again for this community rich in history. Incorporated in 1974, Ham Lake became a city after over a hundred years of continued steady growth. The area was first settled in 1855, by Scottish settlers on the southwest side of the ham hock-shaped body of water we now know as Ham Lake. The community was originally named  Glen Carey, (no not a person related to Drew) this is the Scottish translation of “beautiful valley”. Following a prairie fire in 1857, the Scots moved on and the community was resettled by Scandinavian settlers. These settlers could not correctly pronounce  Glen Carey and soon the fledging community was renamed Ham Lake. Anoka County didn't officially recognized it as a township until 1871. In the early 1900’s Central Avenue (Highway 65) was an extremely slow commute as it was a wagon trail through the sand and swampland. Though this main Ham Lake corridor was graveled and paved at some point, it 1954 before was expanded to four lanes.

 

Those four lanes continue to be in full use now as people look to buy Ham Lake acreage, executive, luxury and lakeshore homes. Inventory is way down in the lower price categories throughout Ham Lake with less than 4 months of active inventory under $200,000. There are currently 92 homes active on the market compared to 94 at the same time last year; but nearly 25% have contingent offers accepted (short sale offer into bank, inspection or sale of other home) so only about 75 are fully available. Homes listed at higher prices have started selling again in 2012 and combined with lower inventory, this is the first year in several that there is good news for  home sellers priced over $400K. With 19 listed homes over $400,000 and  6 sold in the first half of 2012, the absorption rate is roughly 18 months. This is fantastic as Ham Lake sellers in this price point were looking at 3-4 years absorption just last year. 

 

Lower priced inventory continues to be in demand in the Ham Lake area. With only 21 active listings, 17 in pending and 33 sold in the first half of 2012, it seems that homes under $200K are selling like proverbial hotcakes!  Homes in the $200,000 - $400,000 price range also are selling considerably well with roughly 12 months of inventory.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 holding somewhat steady as it it taking 3-5 months to sell; longer if your home is in a higher price category. At the very high end of the scale it could still take a well over a year to find a buyer because of the abundance of competing homes in Ham Lake and surrounding Anoka County areas. It continues to be essential to have your home properly priced and staged to perfection for every showing if you want to sell your Anoka County home as we continue into the second half of 2012.

 

Mid Year 2012 Ham Lake residential real estate statistics for single family homes:

 

Under $200,000~ 21 Active Listings, 17 Pending Listings, 33 Sold Listings, CDOM 101 (New Construction Subgroup ~ 1 Active, 0 Pending, 1 Sold, CDOM 96)

$200,000-300,000 ~ 28 Active Listings, 4 Pending Listings, 16 Sold Listings, CDOM 164 (New Construction Subgroup ~ 6 Active, 0 Pending, 2 Sold, CDOM 10)

$300,000-400,000 ~ 24 Active Listings, 5 Pending Listings, 10 Sold Listings, CDOM 159 (New Construction Subgroup ~ 6 Active, 0 Pending, 2 Sold, CDOM 101)

$400,000-$500,000 ~ 12 Active Listings, 0 Pending Listings, 4 Sold Listings, CDOM 149 (New Construction Subgroup ~ 0 Active, 0 Pending, 0 Sold)

$500,000 and Up~ 7 Active Listings, 1 Pending Listings, 2 Sold Listings, CDOM 316 (New Construction Subgroup ~ 1 Active, 0 Pending, 0 Sold)