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FOR -SALE HOUSING ANALYSIS <br />• The days on market also decreased from 2007 to 2018 indicating continued improvement in <br />the Ramsey real estate market. The median days on market in 2018 was only 21 days, indi- <br />cating a sellers' market. <br />• The number of resales was highest between 2015 and 2018, averaging 546 resales annually. <br />Resale activity was lowest in 2000 with 270 resales. <br />$400,000 <br />$350,000 <br />$300,000 <br />$250,000 <br />$200,000 <br />$150,000 <br />$100,000 <br />$50, 000 <br />so <br />Ramsey Housing Median Resale Values - 2000 to 2018 <br />Resales <br />Median Sold Price --Average Sold Price <br />2000 01 02 03 04 2005 06 07 08 09 2010 11 12 13 14 2015 16 17 18 <br />Year <br />700 <br />600 <br />500 <br />400 u, <br />ai <br />m <br />ai <br />300 °C <br />200 <br />100 <br />0 <br />• Single-family housing types accounted for about 73% of all resales since 2000. Multifamily <br />resales have been strong the last two years, accounting for 33% of the resales (about 188 <br />resales annually). <br />• Multifamily for -sale housing is usually priced lower than single-family housing (about 20% <br />less between 2000 and 2018). <br />• The median resale value for single-family homes has rebounded to over $290,000. In 2018, <br />the multifamily home value increased to $189,900, the highest the values have been since <br />the previous peak level in 2006. <br />MAXFIELD RESEARCH & CONSULTING, LLC 95 <br />