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FOR -SALE MARKET ANALYSIS
<br />TABLE FS -2
<br />SINGLE- FAMILY AND MULTIFAMILY RESIDENTIAL SALES
<br />CITY OF ELK RIVER
<br />2000 through 2015 (1st Half)
<br />Pct. Change
<br />00'- 14' 11.0% 32.3% 28.4%
<br />Median
<br />Average
<br />2000
<br />Number
<br />Selling
<br />%
<br />Selling
<br />%
<br />Year
<br />of Sales
<br />Price
<br />Chg.
<br />Price
<br />Chg.
<br />2002
<br />77
<br />Single - Family
<br />4.0%
<br />$167,803
<br />2000
<br />318
<br />$162,400
<br />$162,200
<br />$175,779
<br />--
<br />2001
<br />288
<br />$174,700
<br />7.6%
<br />$191,433
<br />8.9%
<br />2002
<br />358
<br />$199,925
<br />14.4%
<br />$219,401
<br />14.6%
<br />2003
<br />360
<br />$222,000
<br />11.0%
<br />$244,366
<br />11.4%
<br />2004
<br />470
<br />$239,250
<br />7.8%
<br />$256,351
<br />4.9%
<br />2005
<br />411
<br />$251,900
<br />5.3%
<br />$272,383
<br />6.3%
<br />2006
<br />325
<br />$251,500
<br />-0.2%
<br />$273,785
<br />0.5%
<br />2007
<br />252
<br />$249,230
<br />-0.9%
<br />$260,260
<br />-4.9%
<br />2008
<br />262
<br />$205,950
<br />-17.4%
<br />$220,158
<br />-15.4%
<br />2009
<br />308
<br />$172,950
<br />-16.0%
<br />$183,223
<br />-16.8%
<br />2010
<br />235
<br />$181,000
<br />4.7%
<br />$193,931
<br />5.8%
<br />2011
<br />273
<br />$160,000
<br />-11.6%
<br />$166,955
<br />-13.9%
<br />2012
<br />293
<br />$175,000
<br />9.4%
<br />$181,439
<br />8.7%
<br />2013
<br />350
<br />$189,450
<br />8.3%
<br />$202,385
<br />11.5%
<br />2014
<br />353
<br />$214,900
<br />13.4%
<br />$225,623
<br />11.5%
<br />2015^
<br />208
<br />$227,250
<br />5.7%
<br />$234,692
<br />4.0%
<br />Pct. Change
<br />00'- 14' 11.0% 32.3% 28.4%
<br />Pct. Change
<br />00'- 14' 222.9% -5.3% 3.7%
<br />^2015: Sales from January to June
<br />* Multifamily includes twinhomes, townhomes, and condominiums (cooperatives are typically
<br />not listed in the MLS)
<br />Source: Regional Multiple Listing Service of MN; Maxfield Research & Consulting, LLC
<br />MAXFIELD RESEARCH & CONSULTING, LLC 62
<br />Multifamily*
<br />2000
<br />35
<br />$142,580
<br />--
<br />$145,163
<br />--
<br />2001
<br />36
<br />$146,400
<br />2.7%
<br />$154,227
<br />6.2%
<br />2002
<br />77
<br />$152,197
<br />4.0%
<br />$167,803
<br />8.8%
<br />2003
<br />106
<br />$162,200
<br />6.6%
<br />$172,222
<br />2.6%
<br />2004
<br />141
<br />$167,123
<br />3.0%
<br />$179,253
<br />4.1%
<br />2005
<br />108
<br />$172,775
<br />3.4%
<br />$184,227
<br />2.8%
<br />2006
<br />114
<br />$167,025
<br />-3.3%
<br />$176,956
<br />-3.9%
<br />2007
<br />108
<br />$164,995
<br />-1.2%
<br />$169,623
<br />-4.1%
<br />2008
<br />78
<br />$132,500
<br />-19.7%
<br />$137,021
<br />-19.2%
<br />2009
<br />89
<br />$100,000
<br />-24.5%
<br />$107,015
<br />-21.9%
<br />2010
<br />78
<br />$107,442
<br />7.4%
<br />$110,555
<br />3.3%
<br />2011
<br />109
<br />$90,000
<br />-16.2%
<br />$92,842
<br />-16.0%
<br />2012
<br />97
<br />$105,000
<br />16.7%
<br />$106,746
<br />15.0%
<br />2013
<br />95
<br />$117,500
<br />11.9%
<br />$119,313
<br />11.8%
<br />2014
<br />113
<br />$135,000
<br />14.9%
<br />$150,570
<br />26.2%
<br />2015^
<br />64
<br />$146,500
<br />8.5%
<br />$158,818
<br />5.5%
<br />Pct. Change
<br />00'- 14' 222.9% -5.3% 3.7%
<br />^2015: Sales from January to June
<br />* Multifamily includes twinhomes, townhomes, and condominiums (cooperatives are typically
<br />not listed in the MLS)
<br />Source: Regional Multiple Listing Service of MN; Maxfield Research & Consulting, LLC
<br />MAXFIELD RESEARCH & CONSULTING, LLC 62
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