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FOR-SALE MARKET ANALYSIS <br /> Elk River Lot Supply <br /> Tables FS-9, FS-10, and FS-11 show an inventory of lots within platted subdivisions in Elk River. <br /> The table includes information on the year the subdivision was platted, the total number of lots <br /> platted, number of lots developed, lots available, and type of lot. The data in Tables FS-9 and <br /> FS-10 was provided by Metrostudy(a nationally recognized firm providing data for the <br /> residential housing market). The data in Table FS-11 was provided by Sherburne County. <br /> The following terms are used in the lot inventory tables: <br /> Annual Starts and Closings: The sum of activity for the most recent four quarters. <br /> Closing: Defined as when a "move in" has occurred and the home is occupied. <br /> Future Lots Inventory: Future lots are recorded after a preliminary plat or site plan has <br /> been submitted for consideration by the city. <br /> Lot Front: Range of all lot sizes within the subdivision; based on the lot front foot width <br /> Occupied: A buyer has taken possession of the home that was previously under <br /> construction or a model home. <br /> Price: Range of all base home price offered within the subdivision <br /> Starts:The housing slab or foundation has been poured. <br /> Total Lots: A summation of all lots platted in a subdivision, including those closed, <br /> under construction, and vacant. <br /> Vacant Developed lot (VDL): The subdivision is considered developed after subdivision <br /> streets are paved and vehicles can physically drive in front of the lot. <br /> The following are key points from Tables FS-9 and FS-10: <br /> • As of 2nd Quarter 2015, Elk River had a total of 200 vacant lots within 26 subdivisions. <br /> However, 188 of the vacant lots were single-family lots while 11 vacant lots were attached <br /> lots. <br /> • The majority of the subdivisions (20) were platted between 2000 and 2006. Roughly 54%of <br /> the lots were platted between 2004 and 2006, the peak years of the real estate boom. <br /> There have been three subdivisions platted recently in over the past two years. <br /> MAXFIELD RESEARCH&CONSULTING,LLC 73 <br />