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FOR-SALE MARKET ANALYSIS <br /> Elk River Home Resales by Price & Year <br /> 1090.0%0.0°i° . . . . . . . . . . . <br /> I . . . . . . . . . . . <br /> 80.0% <br /> 70.0 ° ' ■ I I III U U 111 U I I I I . . I <br /> $300k+ <br /> 60.0% I <br /> ti <br /> ::: IIII $250k to$299.9k <br /> , I I I I ■$200k to$249.9k <br /> 0 IIIII ■ <br /> •$150k to$199.9k <br /> 3 II <br /> UIUI ■ ■ 111 111 ■Under$100k <br /> ■ <br /> 10.0% 1 ■ ■ <br /> 0.0% <br /> N N N N N N N N N N N N <br /> O O O O O O O O O O CO O <br /> O O O O O O O O O O N H <br /> O 1-+ N W A In CT) J CO LID O 1-■ <br /> Year <br /> Current Supply of Homes on the Market <br /> To more closely examine the current market for available owner-occupied housing in Elk River, <br /> we reviewed the current supply of homes on the market (listed for sale). Table FS-4 homes <br /> shows currently listed for sale in Elk River distributed into 12 price ranges. The data was <br /> provided by the Regional Multiple Listing Services of Minnesota and is based on active listings in <br /> June 2012. MLS listings generally account for the vast majority of all residential sale listings in a <br /> given area. <br /> Table FS-5 shows the number of listings by property type (i.e. single-family, <br /> townhome/twinhome, or condominium) while Table FS-6 shows listings by home style. The <br /> following points are key findings from our assessment of the active single-family and <br /> multifamily homes listed in Elk River. <br /> • About 130 homes were listed for sale in Elk River as of June 2012. <br /> • The median list price in Elk River was $181,900 ($196,073 for single-family homes and <br /> $107,500 for multifamily homes). The median sale price is generally a more accurate <br /> indicator of housing values in a community than the average sale price. Average sale prices <br /> can be easily skewed by a few very high-priced or low-priced home sales in any given year, <br /> MAXFIELD RESEARCH INC. 64 <br />