From January through December of 2019, there were five homes sold, with a median sale price of $387,777 - a 72% increase over the $225,500 median sale price for the previous year. There were 12 homes sold in Gem Lake in 2018.
The median sales tax in Gem Lake for 2019 was $4,173. In 2018, the median sales tax was $3,785. This marks an increase of 10.3%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.1%.
The following table compares Gem Lake to other Ramsey County cities with similar median sales prices in 2019:
| City | Jan. - Dec. 2019 Home Sales | Jan. - Dec. 2018 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2019 Median Sales Price | Jan. - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| North Oaks | 52 | 58 | -10.3% | $639,750 | $615,000 | 4% |
| Gem Lake | 5 | 12 | -58.3% | $387,777 | $225,500 | 72% |
| Arden Hills | 72 | 93 | -22.6% | $369,500 | $400,000 | -7.6% |
| Falcon Heights | 39 | 58 | -32.8% | $329,500 | $296,000 | 11.3% |
| Shoreview | 299 | 272 | 9.9% | $305,000 | $289,950 | 5.2% |
| Bellaire | 10 | 8 | 25% | $302,500 | $282,000 | 7.3% |
| White Bear Township | 132 | 113 | 16.8% | $285,000 | $275,000 | 3.6% |
| New Brighton | 234 | 235 | -0.4% | $280,000 | $261,000 | 7.3% |
| Little Canada | 96 | 111 | -13.5% | $277,950 | $237,000 | 17.3% |
| Roseville | 451 | 409 | 10.3% | $265,000 | $256,000 | 3.5% |
| Vadnais Heights | 129 | 159 | -18.9% | $264,900 | $246,000 | 7.7% |
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