From July through December of 2019, there were two homes sold, with a median sale price of $441,889 - a 171.9% increase over the $162,500 median sale price for the same period of the previous year. There were six homes sold in Gem Lake in the second half of 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 0.9%.
The following table compares Gem Lake to other Ramsey County cities with similar median sales prices in the second half of 2019:
| City | July - Dec. 2019 Home Sales | July - Dec. 2018 Home Sales | % change (Total Home Sales) | July - Dec. 2019 Median Sales Price | July - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| North Oaks | 24 | 28 | -14.3% | $602,000 | $595,000 | 1.2% |
| Gem Lake | 2 | 6 | -66.7% | $441,888.50 | $162,500 | 171.9% |
| Arden Hills | 40 | 56 | -28.6% | $381,500 | $397,500 | -4% |
| Falcon Heights | 20 | 39 | -48.7% | $327,250 | $298,000 | 9.8% |
| Shoreview | 173 | 142 | 21.8% | $302,500 | $279,950 | 8.1% |
| Bellaire | 7 | 6 | 16.7% | $300,000 | $277,500 | 8.1% |
| New Brighton | 135 | 128 | 5.5% | $292,000 | $266,000 | 9.8% |
| White Bear Township | 67 | 77 | -13% | $286,500 | $280,000 | 2.3% |
| Little Canada | 58 | 66 | -12.1% | $280,500 | $240,000 | 16.9% |
| Roseville | 235 | 223 | 5.4% | $267,500 | $255,000 | 4.9% |
| Vadnais Heights | 74 | 91 | -18.7% | $264,950 | $252,500 | 4.9% |
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