From July through December of 2018, there were six homes sold, with a median sale price of $162,500 - a 26.8% decrease over the $222,000 median sale price for the same period of the previous year. There were three homes sold in Gem Lake in the second half of 2017.
The median sales tax in Gem Lake for 2018 was $3,785. In 2017, the median sales tax was $3,533. This marks an increase of 7.1%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.3%.
The following table compares Gem Lake to other Ramsey County cities with similar median sales prices in the second half of 2018:
| City | July - Dec. 2018 Home Sales | July - Dec. 2017 Home Sales | % change (Total Home Sales) | July - Dec. 2018 Median Sales Price | July - Dec. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Roseville | 223 | 187 | 19.3% | $255,000 | $250,000 | 2% |
| Vadnais Heights | 91 | 82 | 11% | $252,500 | $225,250 | 12.1% |
| Mounds View | 71 | 51 | 39.2% | $245,000 | $210,000 | 16.7% |
| Maplewood | 238 | 233 | 2.1% | $242,000 | $220,000 | 10% |
| White Bear Lake | 183 | 151 | 21.2% | $241,250 | $227,500 | 6% |
| Little Canada | 66 | 64 | 3.1% | $240,000 | $222,500 | 7.9% |
| North St. Paul | 101 | 76 | 32.9% | $221,520 | $198,750 | 11.5% |
| Lauderdale | 16 | 17 | -5.9% | $206,250 | $205,000 | 0.6% |
| St. Paul | 2,237 | 1,683 | 32.9% | $203,000 | $185,000 | 9.7% |
| Gem Lake | 6 | 3 | 100% | $162,500 | $222,000 | -26.8% |
| St. Anthony | 25 | 17 | 47.1% | $140,000 | $179,900 | -22.2% |
Alerts Sign-up