Most first time homebuyers would not consider an acreage property for their first home due to expected cost. Ham Lake in Anoka County is one place a first time buyer can make the dream of an acreage home a reality. This community does not have public water and sewer so all of the homes have a minimum acreage requirement. With a few exceptions, lots are a minimum of 1 acre but often homes built in the 1970’s and 1980’were on more than 2 acres. With 2011 average sales prices putting the squeeze on home values, builders have embraced the area and have some budget conscious first time new construction options too.
In 2011, homes continued to sell at a rate equal to 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.
Are YOU a First Time Homebuyer in Ham Lake MN?
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of RE/MAX Specialists, a call or visit my website for a FREE Relocation Packet or Homebuyers Success Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.