From January through June of 2019, there were three homes sold, with a median sale price of $275,000 - a 45% decrease over the $500,000 median sale price for the same period of the previous year. There were five homes sold in Gem Lake in the first 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 1.5%.
The following table compares Gem Lake to other Ramsey County cities with similar median sales prices in the first half of 2019:
| City | Jan. - June 2019 Home Sales | Jan. - June 2018 Home Sales | % change (Total Home Sales) | Jan. - June 2019 Median Sales Price | Jan. - June 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Arden Hills | 32 | 44 | -27.3% | $325,950 | $331,500 | -1.7% |
| Shoreview | 126 | 182 | -30.8% | $310,000 | $277,630 | 11.7% |
| Bellaire | 3 | 2 | 50% | $305,000 | $449,250 | -32.1% |
| White Bear Township | 65 | 47 | 38.3% | $285,000 | $261,000 | 9.2% |
| Little Canada | 38 | 52 | -26.9% | $276,450 | $221,000 | 25.1% |
| Gem Lake | 3 | 5 | -40% | $275,000 | $500,000 | -45% |
| Roseville | 216 | 213 | 1.4% | $263,450 | $254,500 | 3.5% |
| New Brighton | 99 | 124 | -20.2% | $263,000 | $247,750 | 6.2% |
| White Bear Beach | 4 | 2 | 100% | $257,500 | $315,000 | -18.3% |
| Vadnais Heights | 55 | 85 | -35.3% | $254,000 | $195,000 | 30.3% |
| White Bear Lake | 114 | 187 | -39% | $251,800 | $240,000 | 4.9% |
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