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Mr. Eric Zweber
<br />WSB & Associates, Inc.
<br />December 19, 2017
<br />Page 26
<br />Housing Resale Values
<br />Table 13 presents recently sold single family homes, condos/townhomes, and multi -family
<br />homes in Navarre and Orono from January 2017 to mid-November 2017.
<br />• A total of 186 properties were identified as recently sold in Orono with 153 single family
<br />homes listed and 33 condo or multi -family homes
<br />• The largest percentage (30%) of single family homes in Orono were sold for over
<br />$1,000,000. Only 5% of single family homes were sold for less than $200,000.
<br />• Only 16 homes have sold through mid-November 2017 in Navarre. Compared to Orono
<br />proper the housing market in Navarre is much more affordable as the average and me-
<br />dian sales price was $215,305 and $206,500, respectively. The housing stock is also
<br />older and smaller as the average home size was 1,476 finished square feet.
<br />MAXFIELD RESEARCH AND CONSULTING, LLC
<br />TABLE 12
<br />HOUSING
<br />UNITS BY STRUCTURE & TENURE
<br />PRIMARY
<br />MARKET AREA
<br />2015
<br />ORONO CITY
<br />HENNEPIN COUNTY
<br />Owner-
<br />Renter-
<br />Owner-
<br />Renter -
<br />Units in Structure
<br />Occupied
<br />Pct.
<br />Occupied
<br />Pct.
<br />Occupied
<br />Pct.
<br />Occupied
<br />Pct.
<br />1, detached
<br />2,615
<br />96.6%
<br />239
<br />50.0%
<br />247,800
<br />80.6%
<br />23,400
<br />12.8%
<br />1, attached
<br />66
<br />2.4%
<br />80
<br />16.7%
<br />30,109
<br />9.8%
<br />12,592
<br />6.9%
<br />2
<br />0
<br />0.0%
<br />0
<br />0.0%
<br />4,012
<br />1.3%
<br />12,829
<br />7.0%
<br />3 to 4
<br />10
<br />0.4%
<br />0
<br />0.0%
<br />2,669
<br />0.9%
<br />8,885
<br />4.9%
<br />5 to 9
<br />0
<br />0.0%
<br />0
<br />0.0%
<br />2,588
<br />0.8%
<br />10,911
<br />6.0%
<br />10 to 19
<br />0
<br />0.0%
<br />0
<br />0.0%
<br />2,076
<br />0.7%
<br />22,573
<br />12.3%
<br />20 to 49
<br />0
<br />0.0%
<br />0
<br />0.0%
<br />4,620
<br />1.5%
<br />32,276
<br />17.7%
<br />50 or more
<br />15
<br />0.6%
<br />159
<br />33.3%
<br />12,573
<br />4.1%
<br />58,794
<br />32.2%
<br />Mobile home
<br />0
<br />0.0%
<br />0
<br />0.0%
<br />910
<br />0.3%
<br />446
<br />0.2%
<br />Boat, RV, van, etc.
<br />0
<br />0.0%
<br />0
<br />0.0%
<br />38
<br />0.0%
<br />95
<br />0.1%
<br />Total
<br />2,706
<br />100%
<br />478
<br />100%
<br />307,395
<br />100%
<br />182,801
<br />100%
<br />Sources: U.S. Census Bureau
<br />-American Community Survey; Maxfield Research and Consulting LLC
<br />Housing Resale Values
<br />Table 13 presents recently sold single family homes, condos/townhomes, and multi -family
<br />homes in Navarre and Orono from January 2017 to mid-November 2017.
<br />• A total of 186 properties were identified as recently sold in Orono with 153 single family
<br />homes listed and 33 condo or multi -family homes
<br />• The largest percentage (30%) of single family homes in Orono were sold for over
<br />$1,000,000. Only 5% of single family homes were sold for less than $200,000.
<br />• Only 16 homes have sold through mid-November 2017 in Navarre. Compared to Orono
<br />proper the housing market in Navarre is much more affordable as the average and me-
<br />dian sales price was $215,305 and $206,500, respectively. The housing stock is also
<br />older and smaller as the average home size was 1,476 finished square feet.
<br />MAXFIELD RESEARCH AND CONSULTING, LLC
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