Is Ham Lake, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Ham Lake was a Seller's Market.
Key Takeaway
Ham Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ham Lake, MN
How much do homes in Ham Lake, MN cost?
Median Sold Price
$513,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ham Lake have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Ham Lake was $513,000 in May 2024, up 5.5% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $420K | $339.9K | -19.1% |
| 3 Bedrooms | $442K | $395K | -10.6% |
| 4 Bedrooms | $479.2K | $564.5K | +17.8% |
| 5+ Bedrooms | $656K | $600K | -8.5% |
Summary: Ham Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.1%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Ham Lake | $486.2K | $513K | +5.5% |
| East Bethel | $390K | $402K | +3.1% |
| Columbus | $512K | $525K | +2.5% |
| Andover | $439.9K | $437.1K | -0.6% |
| Cedar | $450K | $430K | -4.4% |
Housing Supply in Ham Lake, MN
How many homes are available in Ham Lake, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 66 | +11.9% |
Summary: The Ham Lake real estate market had 66 homes for sale in May 2024, a 11.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 14 | 18 | +28.6% |
| 4 Bedrooms | 28 | 33 | +17.9% |
| 5+ Bedrooms | 14 | 11 | -21.4% |
Summary: The Ham Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ham Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Ham Lake in May 2024, down by 40.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for Ham Lake, MN
How long does it take to sell a home in Ham Lake, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 75 Days | 57 Days | -23.8% |
Summary: Homes in Ham Lake had an average of 57 days on market in May 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ham Lake are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Ham Lake; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
