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FOR-SALE MARKET ANALYSIS <br />Before the housing bust and the Great Recession, the price per sfor existing <br />home was about 10% to 20% less than new home construction.In 2007, the price per <br />square foot between the two was exactly the same. Since 2007, price per square foot for <br />new home construction has been considerably higher. The highestoccurring in <br />2012 when the new home construction was 71% higher. New home construction is <br />currently 50% higher as of June 2015. <br />TABLE FS-4 <br />HOUSING SALES PER SQUARE FOOT (PSF) <br />ELK RIVER <br />2005 to June 2015 <br />MedianAvg.Existing HomeNew Const. <br />Year <br />PSFPSFMedian PSFMedian PSF <br />2005$122$131$116$140 <br />2006$117$126$114$127 <br />2007$113$121$113$113 <br />2008$92$98$90$118 <br />2009$79$82$76$103 <br />2010$82$85$79$107 <br />2011$69$72$68$111 <br />2012$76$80$76$130 <br />2013$86$92$84$130 <br />2014$94$98$91$136 <br />2015*$96$102$93$140 <br />* Through June 2015 <br />Source: Regional Multiple Listing Service of MN, Maxfield Resea <br />Elk River Sales per Square Foot (PSF) <br />$140 <br />Median PSFAvg. PSF <br />$120 <br />$100 <br />$80 <br />$60 <br />$40 <br />$20 <br />$0 <br />Year <br />66 <br />MAXFIELD RESEARCH & CONSULTING, LLC <br /> <br />