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RAMSEY RESIDENTIAL MARKET <br />A total of 2,464 housing units were built in Ramsey between 2000 and 2011, or an average of <br />205 units per year. The peak construction activity was between 2000 and 2007 when 2,261 new <br />units were built, as shown in Table 4-10. Condo/townhouse and duplex totaled 1,264 units or <br />51.3 percent of all units. Multi -family totaled 170 units or 6.9 percent. Peak construction <br />occurred in 2004, similar to other corridor communities, where construction peaked in the <br />middle of the decade. Between 2008 and 2011, single family has been the dominant housing <br />type. In 2012, Ramsey issued building permits for 49 single family detached homes, eight <br />townhomes and 230 multi -family units. <br />Table 4-10 <br />RAMSEY RESIDENTIAL BUILDING PERMITS; 2000 TO 2012 <br />Year <br />Condo/ <br />Single Townhome Multi - <br />Family Duplex Family Total <br />2000 79 30 - 109 <br />2001 66 52 - 118 <br />2002 112 107 219 <br />2003 175 279 - 454 <br />2004 166 398 - 564 <br />2005 91 300 - 391 <br />2006 67 109 - 176 <br />2007 89 78 63 230 <br />2008 57 18 - 75 <br />2009 45 - 45 <br />2010 60 - 60 <br />2011 23 - 23 <br />2012 49 8 230 287 <br />Source: City of Ramsey. <br />For -Sale Market <br />From 2005 to 2012, new home sales made up 23.0 percent of the market on average. There was <br />an average of 85 new homes sold per year between 2005 and 2012, as shown in Table 4-11. <br />Townhomes represented 55.9 percent of the new homes; while new condominiums represented <br />3.5 percent of the new homes. Sales volume has declined steadily since 2005 when a total of 207 <br />new homes were sold. At the current time, there is little demand for townhomes due to the low <br />cost of single family houses. As the price of single family homes increases, townhomes are <br />expected to become more popular. <br />4-9 <br />