The City of Ham Lake has a rich
history. Incorporated in 1974, Ham Lake became a city after over a
hundred years of humble but steady growth. The area was first settled
in 1855 by a group of Scottish men on the southwest side of Ham Lake.
Though, I can only assume that the lake itself got its name due to its
unusual â€œham hockâ€ shape, the community started out with a different
name. The original name of the community was Glen Carey, which is the
Scottish translation of â€œbeautiful valleyâ€. Following a prairie fire in
1857, the first settlers moved but the community was resettled again.
The new Scandinavian settlers had a hard time with the pronunciation of
Glen Carey and soon the fledging community was known as Ham Lake. Anoka
County officially was recognized it as a township in 1871. In the early
1900â€™s Central Avenue (Highway 65) was a slow commute as it was a wagon
trail through the sand and swampland. And we think going through stop
light after stop light slows traffic. Though it was graveled and paved
at some point, it 1954 before was expanded to four lanes. Those four lanes are in full use now
as more and more people look to buying acreage, executive, luxury and
lakeshore homes in the Ham Lake area. The real estate market is not
quite as sluggish in Ham Lake, MN as it was in early 2009. But the
sales slowed considerably after the expiration of the tax credit. Still
homes did sell in all price categories and inventory seems to be down. The lower inventory levels is not
just due to sales in the Ham Lake area. There are currently 109 homes
active on the market. A few homes listed at higher prices did move off
the market but builderâ€™s are being much more conservative as there are
fewer new construction homes in the area with price points over half a
million. Likewise, all the lakeshore homes with the high price points
have been removed from the market as just werenâ€™t selling. There are
still 9 listed homes over $500,000 and only 2 sold in the 3rd quarter
of 2010 and one in pending, the absorption rate is just over a year.
Lower priced inventory did continue to sell pretty well into the third
quarter. With 33 actives and 8 sales this quarter, it seems that homes
under $200K have slowed from a 6 month to an 8 month absorption rate.
Sales in the $200,000-$300,000 price points have slowed considerably
and now the absorption rate has slowed to over a year. While in the
$400,000-$500,000 range, the inventory is down either due to people
removing their homes from the market or dropping their prices. Now the
absorption rate in this price point is about 8 months. 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 still
over 6 months but in some price points it could take a year or longer.
Right now inventory levels indicate there is about roughly a year of
inventory in the Ham Lake market. Homes that are properly priced and
prepared for showings in this Anoka County community are selling. 3rd Quarter 2010 Ham Lake residential real estate statistics for single family homes: Under $200,000~ 33 Active Listings, 9 Pending Listings, 12 Sold Listings, CDOM 97 (No New Construction)
$200,000-300,000 ~ 39 Active Listings, 6 Pending Listings, 8 Sold Listings, CDOM 159 (New Construction Subgroup ~ 4 Active, 1 Pending, 1 Sold)
$300,000-400,000 ~ 20 Active Listings, 1 Pending Listings, 6 Sold Listings, CDOM 124 (New Construction Subgroup ~ 6 Active, 0 Pending, 1 Sold)
$400,000-$500,000 ~ 8 Active Listings, 1 Pending Listings, 2 Sold Listings, CDOM 281 (New Construction Subgroup ~ 0 Active, 1 Pending, 1 Sold)
$500,000 and Up~ 9 Active Listings, 1 Pending Listings, 2 Sold Listings, CDOM 317 (New Construction Subgroup ~ 1 Active, 0 Pending, 2 Sold) Lakeshore available in the City of Ham Lake
4 Active Listings
Ham Lake lakeshore price range: $195,000-$299,000
1 Homes on Coon Lake
1 Homes on Ham Lake
1 Home on Lake Netta
1 Home on Little Coon Lake **All
Statistical information based on information from the REGIONAL MULTIPLE
LISTING SERVICE of MINNESOTA, INC. for the period of 7/1/10 through
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