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RAMSEY RESIDENTIAL MARKET <br /> A total of 2,700 housing units were built in Ramsey between 2000 and 2012, or an average of <br /> 208 units per year. The peak construction activity was between 2000 and 2007 when 2,210 new <br /> units were built, as shown in Table 4-10. Condo/townhouse and duplex totaled 1,191 units or <br /> 53.9 percent of all units. Multi-family totaled 170 units or 7.7 percent. Peak construction <br /> occurred in 2004, similar to other corridor communities where construction peaked in the middle <br /> of the decade. Between 2008 and 2011, single family has been the dominant housing type. In <br /> 2012, Ramsey issued building permits for 49 single family detached homes, eight townhomes, <br /> and 230 multi-family units. <br /> Table 4-10 <br /> RAMSEY RESIDENTIAL BUILDINGPERMITS; 2000 TO 2012 <br /> Condo/ <br /> Single Townhome Multi- <br /> Year Family Duplex Family Total <br /> 2000 79 12 - 91 <br /> 2001 70 15 - 85 <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-I1. <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 />