From January through December of 2017, there were four homes sold, with a median sale price of $241,000 - a 17.6% increase over the $205,000 median sale price for the previous year. There were three homes sold in Gem Lake in 2016.
The median sales tax in Gem Lake for 2017 was $3,533. In 2016, the median sales tax was $3,326. This marks an increase of 6.2%. 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 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Arden Hills | 97 | 79 | 22.8% | $270,000 | $255,000 | 5.9% |
| Falcon Heights | 56 | 44 | 27.3% | $269,950 | $281,250 | -4% |
| White Bear Township | 157 | 161 | -2.5% | $264,900 | $240,000 | 10.4% |
| Shoreview | 389 | 415 | -6.3% | $250,000 | $218,400 | 14.5% |
| New Brighton | 264 | 268 | -1.5% | $241,900 | $223,000 | 8.5% |
| Gem Lake | 4 | 3 | 33.3% | $241,000 | $205,000 | 17.6% |
| Roseville | 379 | 436 | -13.1% | $236,500 | $219,000 | 8% |
| White Bear Lake | 290 | 328 | -11.6% | $225,000 | $215,000 | 4.7% |
| Vadnais Heights | 166 | 153 | 8.5% | $223,500 | $207,000 | 8% |
| Maplewood | 468 | 478 | -2.1% | $216,250 | $195,000 | 10.9% |
| Mounds View | 101 | 129 | -21.7% | $210,000 | $188,000 | 11.7% |
Alerts Sign-up