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ANOKA COUNTY HOUSING STUDY FOR -SALE HOUSING <br />debt that households may have), an annual income of about $42,000 would be needed to <br />afford a median priced townhome while an annual income of $56,000 would be needed to <br />afford a median priced single-family home. <br />Percent Change <br />35.0% <br />30.0% <br />25.0% <br />20.0% <br />15.0% <br />10.0% <br />5.0% <br />0.0% <br />-5.0% <br />-10.0% <br />-15.0% <br />Percent Change in Single -Family Home Resale Values <br />Anoka County Submarkets, 2000 to 2010 <br />32.0% <br />27.6% <br />22.6% <br />17.3 <br />15.5% <br />-1.1% -9.9% -2.2% 0.0% <br />at" o 1 ti ao 3 <br />N <br />o <br />o o 0 <br />a S <br />w N .s <br />. N o <br />N <br />8.8% <br />Table D-3: Residential Sale Trends by Tyne <br />• Over the past several years, non-traditional sales (foreclosures and short -sales) have been <br />accounting for a larger percentage of total resale activity across the Metro Area. In Anoka <br />County, traditional transactions accounted for 59% of all resales in 2008 but decreased to <br />46% and 50% in 2009 and 2010, respectively. <br />• Foreclosures account for about 75% of non-traditional sales in most years while short -sales <br />account for the remaining 25%. <br />• On average, foreclosures sell for about 70% the median price of traditional sales and short <br />sales sell for about 79% of the median price of traditional sales. In 2010, traditional sales <br />had a median price of $185,000 while foreclosures were at $125,000 and short sales were at <br />$140,450. <br />• The charts on the following page summarize activity and median prices by each for each <br />transaction type. <br />MAXFIELD RESEARCH INC. 85 <br />