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FOR-SALE HOUSING MARKET CONDITIONS <br /> Current Supply of Homes on the Market <br /> Tables 15 and 16 show the number of single-family and multifamily homes currently listed for- <br /> sale in the Ramsey Market Area. The home sale listings are distributed into five price ranges. <br /> The data was provided by the Regional Multiple Listing Service. Key findings from our assess- <br /> ment of the actively listed homes are shown below. <br /> Single-Family Homes Listed For-Sale <br /> • The median list price was about$250,000 for homes in the Market Area and the average list <br /> price was $308,461. The median sale price is a better indicator of where most homes are <br /> priced than sale prices because some of the upper-end, more expensive homes skew the aver- <br /> age list price up. <br /> TABLE 15 <br /> SINGLE-FAMILY HOMES LISTED FOR-SALE <br /> RAMSEY MARKET AREA <br /> December 2005 <br /> PM SMA Total Market Area <br /> No.of No.of No.of <br /> List Price Homes List Price Homes List Price Homes <br /> <S150,000 - 1 <$150,000 - 0 <S 150,000 - 1 <br /> $150,000-$199,999 - 34 5150,000-$199,999 - 54 5150,000-S199,999 - 88 <br /> $200,000-S224,999 - 28 5200,000-S224,999 - 69 5200,000-S224,999 - 97 <br /> 5225,000-S299,999 - 112 5225,000-S299,999 - 147 5225,000-S299,999 - 259 <br /> S300,000+ - 110 S300,000+ - 104 $300,000+ - 214 <br /> Median List Price = $274,900 Median List Price = $244,900 Median List Price = $250,000 <br /> Average List Price = $334,978 Average List Price = $288,254 Average List Price = $308,461 <br /> Sources:Northstar MLS,Maxfield Research,Inc. <br /> • Based on the Anoka County median household income of$77,000, we estimate that qualified <br /> workforce households will have incomes of$43,100 or less for singles through$61,600 or <br /> less for a family of four. We assuming that most of these workforce households could afford <br /> homes ranging from between $150,000 up to $215,000 depending on the size of the house- <br /> hold. Based on data in Tables 15 and 16, 28% of the single-family homes listed for sale (184 <br /> homes) and 84% of the multifamily homes (162 homes)would be affordable to these work- <br /> force households. <br /> • There are a greater percentage of single-family homes in the SMA that fall under the work- <br /> force housing income qualifier(33%)then in the PMA(22%). This is not surprising since <br /> the SMA has an older housing supply than the PMA. The median year built in the SMA was <br /> 1985 versus 1989 in the PMA. <br /> MAXFIELD RESEARCH INC. 29 <br />