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FOR -SALE MARKET ANALYSIS <br />• Tables FS-9 illustrates the historic supply of actively marketing properties in the Twin Cities <br />Metro Area, Anoka County, and Ramsey from 2005 to May 2019. The table depicts the <br />number of months supply by housing product type. The months of supply metric calculates <br />the number of months it would take for all the current homes for sale to sell given the <br />monthly sales absorption. Generally, a balanced supply is considered four to six months. <br />The higher the months of supply indicates there are more sellers than buyers; and the lower <br />the months of supply indicates there are more buyers than sellers. <br />TABLE FS-9 <br />ACTIVE SUPPLY OF HOMES FOR SALE <br />RAMSEY, ANOKA COUNTY, & METRO AREA <br />2005 to 2019 (May) <br />2005 <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />2014 <br />2015 <br />2016 <br />2017 <br />2018 <br />2019* <br />Months Supply <br />City of Anoka Twin Cities <br />Ramsey County Metro <br />4.0 <br />7.0 <br />10.2 <br />9.3 <br />6.5 <br />6.7 <br />5.7 <br />4.2 <br />3.2 <br />3.2 <br />2.6 <br />2.1 <br />1.8 <br />1.9 <br />1.8 <br />3.5 <br />6.0 <br />9.5 <br />10.5 <br />7.0 <br />6.9 <br />6.6 <br />3.8 <br />3.1 <br />3.5 <br />2.8 <br />2.3 <br />1.9 <br />1.8 <br />1.8 <br />4.2 <br />6.6 <br />8.8 <br />9.7 <br />7.3 <br />7.4 <br />7.1 <br />4.5 <br />3.5 <br />3.9 <br />3.4 <br />2.6 <br />2.3 <br />2.2 <br />2.2 <br />Homes for Sale <br />City of Anoka Twin Cities <br />Ramsey County Metro <br />204 <br />263 <br />298 <br />268 <br />196 <br />198 <br />161 <br />128 <br />113 <br />114 <br />107 <br />93 <br />82 <br />91 <br />88 <br />1,974 <br />2,591 <br />3,176 <br />3,120 <br />2,458 <br />2,478 <br />2,176 <br />1,522 <br />1,339 <br />1,472 <br />1,294 <br />1,132 <br />989 <br />873 <br />883 <br />22,706 <br />29,366 <br />32,373 <br />31,557 <br />26,156 <br />26,498 <br />22,712 <br />17,217 <br />15,029 <br />16,178 <br />15,037 <br />12,985 <br />11,457 <br />10,774 <br />10,975 <br />Note: Homes for sale based on rolling 12-month data at end of year <br />Source: 10K Research & Marketing, Maxfield Research & Consulting, LLC <br />• The supply of homes in Ramsey mirrors the Twin Cities; however historically the supply in <br />Ramsey is slightly lower than the Twin Cities average. <br />• After the housing downturn, the supply of homes in Ramsey skyrocketed in 2007 when <br />there were about 10 months of inventory. Since 2007 the inventory of supply has dwindled <br />annually as lender -mediated properties were absorbed. At the end of 2018, there was only <br />a 1.9 months supply of homes for sale in Ramsey. <br />MAXFIELD RESEARCH & CONSULTING, LLC <br />108 <br />