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FOR -SALE MARKET ANALYSIS <br />160 <br />140 <br />120 <br />100 <br />a) <br />v <br />N 80 <br />v <br />cc <br />60 <br />40 <br />20 <br />0 <br />Resales by Housing Type & Price, Ramsey - 2018 <br />• Single Family Multi -Family <br />• <br />Under $100k to $150k to $200k to $250k to $300k to $400k to $500k to $750k to $1M+ <br />$100k $149.9k $199.9k $249.9k $299.9k $399.9k $499.9k $749.9k $999.9k <br />Sales Price <br />Home Resales per Square Foot ("PSF") <br />Table FS-4 shows the distribution of sales by sales price per square foot ("PSF") from 2005 to <br />2018. The sales per square foot metric is simply the sales price of the home divided by the fin- <br />ished square footage. Table FS-5 illustrates PSF pricing between existing homes and new con- <br />struction in Ramsey, Anoka County, and the Twin Cities Metro Area. The graphs on the follow- <br />ing page visually displays the sales data. <br />• The median and average price per square foot declined significantly between 2005 and <br />2011. Ramsey's median price per square foot was $126 in 2006 before declining to its low- <br />est point in 2011 at $71 per square foot (-38%). Since 2011 the price per square foot has <br />steadily increase to $131 per square foot (+84%) as of 2018. <br />• Ramsey housings costs on a median PSF basis are about 13% less than the Twin Cities Metro <br />Area average. However, Ramsey is closer to Anoka County as housing costs are about 5% <br />than the median PSF cost in Anoka County. <br />• On average, the price of an existing home in Ramsey is about 24% less than the cost of new <br />construction. During the recession the gap between existing construction and new con- <br />struction was as high as 50% in 2013. However, since 2015 the gap has shrunk and new <br />construction carries a 20% premium today. <br />MAXFIELD RESEARCH & CONSULTING, LLC 99 <br />