In 2013, homes sales made quite a comeback in Ham Lake, Minnesota; an area well known for its acreage properties. In this north and eastern Anoka County city, the number of closed home sales was up just slightly but with only a slight rise in new listings and continued demand, the absorption rate dropped considerably as well. The average days on the market dropped nearly 30% this year, from four months on average to under three, which keeps the playing field level between buyers and sellers. The average price of a home sold rose as well in 2013 by just over 12%. It went from just under $240K to nearly $270K. This also had a major affect on the price per square footage as it rose from $95/sq ft to $106/sq ft which is up considerably from just a few years ago. Sellers seem to be getting much closer to asking price too; receiving an average of almost 97% of original list price. Ham Lake is known for have some of the lowest property taxes in Anoka County which also help make this an affordable area to consider even as prices rise a bit.
With inventory stable and continued demand, homeowners will find 2014 a good year to list their Ham Lake properties. Existing home inventory levels are relatively stable in this Anoka County community. It has indications that it could turn toward a seller’s market, where sellers have the negotiating advantage. With continued low interest rates, home buyers are still out their looking for the perfect place to call home despite the extended winter storms. Home owners considering selling in 2014 hoping to get the most leverage from the improved market should consider listing their homes before the spring market hits in earnest and there is additional competition.
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