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FOR -SALE MARKET ANALYSIS
<br />• Based on a median list price of $315,000 for both single-family and multifamily listings, a
<br />household would need an income of about $75,000 in order to afford to make monthly
<br />housing payments of about $1,875 (assuming a 10% down payment, 3.875% 30-year fixed
<br />mortgage, property taxes, insurance, and PMI). A household with significantly more equity
<br />(in an existing home and/or savings) could put more than 10% down and afford a higher
<br />priced home. About 68% of Ramsey's non -senior households have annual incomes at or
<br />above $75,000.
<br />Price Range
<br />TABLE FS-6
<br />HOMES CURRENTLY LISTED FOR -SALE
<br />RAMSEY
<br />June 2019
<br />Ramsey
<br />Single -Family
<br />No.
<br />Pct.
<br />Multifamily'
<br />No.
<br />Pct.
<br />Total
<br />No.
<br />Pct.
<br />< $99,999 0 0.0% 0 0.0% 0 0.0%
<br />$100,000 to $149,999 0 0.0% 0 0.0% 0 0.0%
<br />$150,000 to $199,999 1 1.3% 6 26.1% 7 7.1%
<br />$200,000 to $249,999 5 6.7% 10 43.5% 15 15.3%
<br />$250,000 to $299,999 19 25.3% 1 4.3% 20 20.4%
<br />$300,000 to $349,999 14 18.7% 4 17.4% 18 18.4%
<br />$350,000 to $399,999 18 24.0% 2 8.7% 20 20.4%
<br />$400,000 to $449,999 7 9.3% 0 0.0% 7 7.1%
<br />$450,000 to $499,999 3 4.0% 0 0.0% 3 3.1%
<br />$500,000 to $749,999 7 9.3% 0 0.0% 7 7.1%
<br />$750,000 to $999,999 1 1.3% 0 0.0% 1 1.0%
<br />$1,000,000 and Over 0 0.0% 0 0.0% 0 0.0%
<br />Minimum
<br />Maximum
<br />Median
<br />Average
<br />75 100%
<br />$179,900
<br />$849,000
<br />$344,010
<br />$368,013
<br />23 100%
<br />$170,000
<br />$378,000
<br />$220,000
<br />$245,745
<br />98 100%
<br />$170,000
<br />$849,000
<br />$314,906
<br />$339,317
<br />Includes townhomes, detached townhomes, twinhomes, and condominiums
<br />Sources: Regional Multiple Listing Service of Minnesota
<br />Maxfield Research & Consulting, LLC
<br />MAXFIELD RESEARCH & CONSULTING, LLC 104
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