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HomeMy WebLinkAbout20080122 - VIII-B-3Memo VIII-B-3 To: Mayor Hicks and City Council Members From: Justin Fortney, Associate Planner Date: January 22, 2008 Subject: Site Plan -Papa's Bar and Grill Building Expansion - #2008-02 - 350 33~d St W REQUEST Papa's Bar and Grill (formerly Papa Charritos) seeks site plan approval to expand their existing building at 350 33~d St W, legally described as Lot 1, Block 2, County Crossroads Center Addition, Dakota County, MN. The property is 1.20 acres in size. ACTION BY PLANNING COMMISSION At its January 14, 2008, meeting the Planning Commission met to discuss the aforementioned item and unanimously recommended approval to the City Council with limited discussion. No one spoke for or against the item at the meeting. ATTATCHMENTS • Resolution • Location Map • Aerial Photograph • Photograph • elevations • Site Plan BACKGROUND INFORMATION In September 2003, a Site Plan was approved for a patio expansion Comprehensive Plan Classification The 2020 Comprehensive Plan designates the property as C, Commercial. Bars and restaurants are considered service establishments, which would be allowed. Zoning Classification The subject property is zoned C-4, Regional Shopping Center. Bars and restaurants are considered service establishments, which are allowed by right. Adjacent Zoning and Land Use The following land uses abut the property: Direction Existing Use Zoning Comp Plan North Nights of Columbus Hall C-2 Hwy Auto I-Industrial East Country Inn & Suites C-4 Reg. Shopping C-Commercial South 33~d St W (Vacant) . C-4 Reg. Shopping C-Commercial West Hastings Auto Mall C-2 Hwy Auto I-Industrial Existing Condition The existing building constructed in 1977currently holds approximately 3,000 square feet of space in addition to outdoor dinning. Proposed Improvements The expansion of about 1,900 square feet would create a structure just under 5,000 square feet. The proposed addition is where the dinning will be located as the floor plan will be changing. SITE PLAN REVIEW Proposed Building Setbacks Zoning setbacks are acceptable. Setbacks in commercial districts are not specified. Proposed building setbacks are similar to other buildings in the area. The following setbacks are proposed: North- 87 feet (no expansion) East- 46 feet (expanding out past existing setback) South-87 feet (no expansion) West- 92 feet (no expansion) Vehicular Access and Circulation Access to the area will not be changed. Staff believes the circulation is acceptable. Pedestrian Access and Circulation Pedestrian access and circulation is acceptable as long as existing sidewalks adjacent to the building are extended to the new spaces on the south side of the street. Parking Parking is acceptable based on 4,999 square feet of restaurant space or 102 seats. Site Required per Square Foot Spaces Required Restaurant, tavern, 1 per 50 sq. ft 4999 s.f./50=100 or lounge (sit down Or Or full service): 1 per 2 seats 102 seats/2 = 51 Based on the aforementioned information, 51 to 100 spaces are required and 98 spaces are being provided. Parking Lot The parking lot is not being modified to an extent that would require current regulations to be met. Landscaping No additional landscaping requirements are required, as there will be no effects to the previously approved landscaping Plan. Architectural Elevations Currently the building elevations include cinderblocks, stucco, bricks, and some wood. The applicant is proposing to clad the whole addition in stucco. The existing bricks and wood will be removed and replaced with stucco. The applicant would like to incorporate some decorative stonework on many of the building's corners and around the main entrance to maintain the current amount of class one building material. The amount of class one material to be changes is approximately 315 Sq Ft. The small arched windows will be replaced with larger rectangularwindows. There will also be similarwindows to the right side of the doorway. The construction of a trash/ dumpster enclosure to match the building will be required to house the trash and recycling facilities. They are currently located on a concrete slab behind the building. Grading, Drainage, Erosion Control, and Utility Plan Since the new addition is replacing one impervious surface with another and no drainage structures are impacted, plans for grading, drainage, erosion control, and utilities are not required. HASTINGS CITY COUNCIL RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HASTINGS GRANTING SITE PLAN APPROVAL FOR PAPAS BAR AND GRILL EXPANSION Council member moved its adoption: introduced the following Resolution and WHEREAS, Adam Notch has petitioned for Site Plan approval for expansion of Papa's Bar and Grill; and WHEREAS, The property is generally located at 350 33`~d Street West and legally described as Lot 1, Block 2, County Crossroads Center Addition, Dakota County, MN; and WHEREAS, on January 14, 2008, review was conducted before the Planning Commission of the City of Hastings, as required by state law, city charter, and city ordinance; and WHEREAS, The Planning Commission recommended approval subject to the conditions of this resolution; and WHEREAS, The City Council has reviewed the request and recommendation of the Planning Commission. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HASTINGS AS FOLLOWS: That the City Council hereby approves the Site Plan as presented subject to the following conditions: 1) Conformance with the City Council Staff Report and plans dated January 22, 2008. 2) Approval is subject to a one year Sunset Clause; if significant progress is not made towards construction of the proposal within one year of City Council approval, the approval is null and void. 3) All disturbed areas on this property shall be stabilized with rooting vegetative cover, asphalt, or cement to eliminate erosion problems. 4) All exterior lighting is required to be shielded down and away from adjacent properties and right-of--ways. 5) Any uncompleted site work (including landscaping) must be escrowed for prior to issuance of a certificate of occupancy. 6) Submission of an electronic copy of all plan sets (TIF, PDF, or similar format) prior to submittal of a building permit. 7) Construction of a trash/ dumpster enclosure to match the building. 8) Removal of class I building material must be replaced by an equal amount of class I building material. Council member moved a second to this resolution and upon being put to a vote it was unanimously adopted by all Council Members present. Adopted by the Hastings City Council on January 22, 2008, by the following vote: Ayes: Nays: Absent: ATTEST: Melanie Mesko Lee City Clerk Paul J. Hicks, Mayor I HEREBY CERTIFY that the above is a true and correct copy of resolution presented to and adopted by the City of Hastings, County of Dakota, Minnesota, on the 22"`' day of January 2008, as disclosed by the records of the City of Hastings on file and of record in the office. Melanie Mesko Lee City Clerk This instrument drafted by: City of Hastings (JJF) 101 4th St. E. Hastings, MN 55033 (SEAL) ite Location Map ~~- ~, .` ,, .~ _ is ~, s Site Location ~f f ~ ~~ ~ ~ Site Location 2C ~ ~ ~ L~ ~ ~ O$ Country Inn & Suits c~ ~6t v v 33RD ST E ~ Super America ,~!/ Ace Hardware aa~~ r~ ~''r~ ~ ~^ iq'' '' °.- ~~,rt ~ ' ~ :.. - ~ .. „ ., ~'"~- L ; x ' ~ ~~ ., l rri 1 ~ n ,i :- ~ -~S . i ` . ~~~ ti ~ ~ is i ~1 ~._ it ~ ~ ~ ~~ __ ~ ~. ~. , f ~ ~ ~ 3 t . 'r .~...Y~XT- 0 ...~f I ; `` -_ - v' ~ ~,~ I' i ~~ ~ ~~`-~ 3 t ~~ 1l ~ i __E I„..: ." i ~:- ~~~f t ~. }r~ f 7~ [. !~ ~3 1 ' $~ 3''~ ~. 9y 'P St t ~~~ /r: ,~ P t ~. ~ ;, E r t } f i~a T~ ~~~-~.. ~ f` _'~ 3 r~ %: _~ ~ ~'. E E ~.....~ t i r' ! rs a3Rp s-r. Site Plan s~s~-r~' `.~_- ~i Existing Building ~~ ~-~, a - ' ~ ` ~~: ..~.. ~r . r m r ~'Y S ~'~ i ~ ~~ ~ ~:' " fir, _ _ r Y~ ~ .'r ~~1 J~ L ~ . ~~a k = .. y t ~~x~ .. e ~s „„ ~, .,~ ~ ~ ~k ~L ~ .. .. I C 3 ~ :` }y 1 t, ~ r r ~ ~~ rt F ~: ,~*u. „~hgryh,nti i91 ~ i.«. i '- ~yy~~~~~ ; y~.~ ~91 F i ~ ~ ~^'~'~ ~ -r I '~,. - 'v ~,^h ~ , r~ i.(~ s Example of stone material to be used .~: ~ ~ ` CITY ®i: II~iSTINfiS VIII-B-4 _, - - )~ . ~ CITY OF NASTW6S 2007 Planning Approvals Major Projects Commercial Projects • Coborn's Grocery Store - 225 33~d Street W - 59,400 s.f. • Hastings Public Works Building - 1225 Progress Drive - 7,800 s.f. • Country Inn & Suites Garage - 300 33~d Street W • Cornerstone Church Garage - 735 10th Street E • Malibu Bay Marina -Spiral View Trail • T Mobile Monopole Tower -Hastings Middle School Residential Projects • Riverwood 9th Addition - 41 Townhome Units -South Pointe Drive • Siewert Apartment Building - 36 Units - 31St Street & County Road 47 • Riverwood 8th Addition - 16 Townhome Units - Riverwood Dr • Riverwood 10th Addition - 7 Townhome Units -Woodland Dr Ordinance & Policy Actions • Began work on the 2030 Comprehensive Plan • Began work on the Hastings Area Roadway Study • Continued work on the Vermillion Street Development Guidelines • Established New R-1 L Zoning District -Redwing Blvd • Amended Sign Ordinance for Video & Electronic Signage • Amended Original Hastings Design Standards I ~~ _ O N U _ ~ _ ~ ' ~ ~ ' , I Z N > > > > > > > > > > U ON > > > > > > > > > U W > Q (n N ~ > O ~ l ' _ _ -_ ........ _- ~ L Q N > d Q ~ > ~ ~ N > > > > ~ 7 ~ > ~ ~ ~ '7 N , > a • y _, - _ ~ y < . co ~ i ~ N I 0 (6 ' Q N > > > > > > > ~. ~ _ -. . .. __ _... 1 __. a Q °' ~ ! ~ I ' N ` __ c a ~ t ' _ __ l L N LOL ~ > ~ ~ N > > > > > > > i i > '. C ~ ' ~ ~ > > > > > I > > '. I c ~ N ~ N ~ O ' • ~ ~ 0 0 ~C U ~ N ~ C • N ~ C ~ (p N (p C O ~ C N C ~ U ~ U ~ ~ ~ ~ Q.. ~ ~ Q ~ Q ~ C N ~ ~ •E N C j N (6 E (6 a to •C C ~ C L j C O C N _ L T ~ C ~ o ~ ~ Z O h U(n l-~ tnN Y= ~ U' (q ~S Ym ~ti .~r_. _ ~ -" "~oF""srw~s 2007 Economic Development MAJOR PROJECTS • Completed Vermillion Street Development Guidelines • Examined Industrial Park signage • Considered developing a marketing and branding campaign MEETING HIGHLIGHTS January 23, 2007 • Discussed changes to Vermillion Street Master Plan • Met with Coborn's Grocery Store Representatives to review redevelopment plans February 27, 2007 • Vermillion Street Master Plan -Reviewed business owners concerns. Directed formation of a joint, EDC and business owner committee to review changes. April 24, 2007 • Vermillion Street Master Plan -Reviewed the joint committee's support of stoplights at 18t" and 23~d Streets. Discussed eliminating language pertaining to median closures. • Discussed the need for Industrial Park Signage. • Reviewed city marketing and branding proposal. May 22, 2007 • Vermillion Street Master Plan -Recap of the joint committees meetings and review of Master Plan requirements and City Code. • Reviewed proposals for Industrial Park Signage and costs. • Recommend allocating marketing and branding funds in 2008 budget. July 24, 2007 • Vermillion Street Development Guidelines - Reviewed a draft of Vermillion Street Design Guidelines to serve in lieu of the Master Plan. Commissioners agreed with the concept of the Design Guidelines, but believed they were too abbreviated. Commissioners directed staff to rework the Design Guidelines to include more elements of the Master Plan. September 25, 2007 • Vermillion Street Development Guidelines -Reviewed reworked Guidelines. • Discussed Mayors Joint Planning Committee\HRA\EDC Committee. November 27, 2007 • Vermillion Street Development Guidelines -Recommended approval of document. • Discussed acquisition of Jiffy Gas Station Site. 2007 Economic Development Commission Attendance Record Name Position Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 23 27 27 24 22 26 24 28 25 23 27 25 Kathleen Chair Rusler / / / / / ~ / O'Connor Ronald Toppin Vice -Chair / / / . / ~ / Shane EDC / / / _ / ~ - Bauer Member Jerry EDC / / / / / _ ~ / _ _ Baum Member ~ Robert Hollenbeck EDC Member / ~ - / / o / / __ _, i / / hnson Member ` Alan Ploeger EDC Member / / I___ / / ` / / _ Patty EDC / / / / Ryman Member Lynn EDC / / _ Moratzka Member ~: Michelle Ex-Officio / ~ ~ / ~ / I / Jacobs Chamber D anna Ex-Officio ~ _ l 9 Schultz City Council / / . / David City Osberg Administrator '~ John Planning / / / / ' / - / Hinzman Director Shannon Econ Dev / / / / _ __ ,. / _ Rausch Staff .~ : -~. -' ~ _ - , \. ~`~°r"ASTwfiS Planning Application Summary Table Ten-Year Summary T e f °O rn ° o 0 o ' yp o o i o ~ 0 0 o o A li ti °= °' w ° ° N pp ca on c c r N N N ° I Comprehensive 3 ~~ 2 4 2 ~ 3 ! 3 0 2 1 ~ 1 ~~ Plan Amendment Final Plat 7 11 8 b ~ 15 1 J 7 ~ 4 i House Move 3 II 7 2 0 0 I 1 I 0 0 2 1 i ~_ -~_ Minor Subdivision 10 G 7 3 9 ~9 9 11 6 5 ~~ Ordinance Amendment 1 0 0 5 3 4 6 ~~ 8 7 Preliminary Plat 4 G 7 9 10 12 '~ 6 6 I 5 5 ~~ Rezonin 8 ,a 3 10 ~ ~ ~ ~ ~~ g 5 i 4 ~ 4 Site Plan 13 ~ 17 14 10 ~ 31 16 ~~ 19 22 I 13 10 Special Use Permit 10 7 5 5 10 7 5 7 ' 2 . ~I Variance 9 9 6 G 18 8 11 11 2 ~ '' ~~ Annexation* - - ~ J 3 1 2 0 2 0 '_ Vacations* 9 6 3 G 5 ~ 11 4 ~ I 5 6 - - _ - - Home Occupation - - - _ ~ ~ _ - ~ _; 2 ~ ~ _- -- - -- Original Hastings - ~ 3 Design Review - - - L Annual Totals** 77 G5 60 ' 75 '~ 112 ~~ 0~ 73 ~ ~~~ I 59 56 * Annexations and Vacations are not reviewed by the Planning Commission '"*Annual Totals represent the sum of the case types presented. Several proposals include multiple case types (i.e. a townhome development could have a comprehensive land use change, rezoning, preliminary plat, and site plan review). _~~ ._ ,~ ,;.#. _- \. CITY OF HAS7'IN&S 2007 Building Permit Totals No. of No. of Bldgs Units Valuation Single Family 9 9 $1,363,483 Townhomes (2-10 units attached) 11 54 $6,268,085 Multi Family (11+ units attached) 1 66 $6,500,000 Manufactured Home 1 1 $22,300 Totals 22 130 $14,153,868 ~ ~ O ~ c A O ~ ~_ -~ ~ ~ -~ ~ ~ ~ N N ~ ~ + O ~ j I -~ .~ L ~_ .~ ~~1 c9~ ~~ ~O ~~ ~~ ~~ ~O ~~ ~~ ~~ ~~ ~~ ~~ ~~ ~~ ~~ i _ O __ O O O O O O O O O ~ O ~ O ~ O ~ O ~ d' d' M c~ N N ~ 0~ ~~ O O ~ O M O O O ' N O N O O N ~ C~ ~ C~ _ C7 -~ N O ~ N N O r O O N ~ ... ~ N _ o ~ n co o N V ~ Q ~ ', ~ O O r= ~"~ O ~ `~' }, ~ - o C6 ~ ~` O ~ ~ ~ rn ~ . ~ ~ ' ~ ~ p N cn ~ O w ~ ~ ~ ~ ~ ~ L V .~ ~' ^~ ~ ~ V• ~ ~ O _ __ _ - -- r - ~ O O O O O O O O O O O O O O ~ L(7 O L(7 O Lf~ O ~ c~ c~ N N ~ ~ } ' o ~ N . ~ ~ a w a ~ ~ m ~ m ~ a~ a ~ ~ ~ ~ c N Q .~ ~ C N +' V ~ V7 ~ Q N _ ~ c ~ ~ ,.. ~ n- N C3 c d ~ ~ ° o ` --. 9 a c . .~.. CO i ~- i ~ > o d '~ d o °~ ~ ~ ~ a o v O1 o~ ° ~ ~ o m a N ~- O N } v c ~ _ ~ a s ~ r s ~ __ ~ ~ Q F- iA n a° [ m . at ~ ~ ~ I a~ C1 a h ~c ( ~' ~~ d , N ~ ~ x W _ ~ ~ c I ~ t ~ Z~ _~ 2 ~ H ~ ~~ s - ~ ~a uo-[[~uuan ~ ~ m i1~1 - %1 .F ~ ~m N au ~ ~ L ~~ ~ ~ ~ t ql~ i4 L _~ `f'~ :., „ m c c~ ~aaa~S auid oJ. ' ~ d V 'n a~ W (~ a v ~~' ~ ~ ~ ~ ~~ o ~` . ~ ania4 nnain~saM O ~_ _ H_•,~ ~ ~ ~ ~ a~iaQ ~u~s~a[~~ s o ~ ~ ~ ~ • ~ ~ L LL {{ I6 $ ' 3:. ~ ~ ~J m N Y ~ O .N d O ~ N y L ~ . ~ N V O Q Z O d ~ ~ ~ ~ ~ ~ V ~ ' G1 m ~ L y CC G ~ ~ ~ (~ J ~ ~ ti ~ w d O Y C D j _~r. _ ~ _ \, CITY OF NASTIN6S ESTIMATED LAND SUPPLY December 31, 2007 Single Family Multi Family 2-10 Units (Townhomes) Multi Family 11+ Units (Apt\Condo) Existing Lot Inventory Immediately Available 110 Lots\1.8 Years 117 Lots\0.8 Years 320 Units Planned Lot Inventory Further City Approvals Needed 162 Lots\2.6 Years 271 Lots\1.9 Years 214 Units Potential Lot Inventory No Formal Approvals Granted 1257\20.5 Years 717 Units\5.0 Years 298 Units Total 1529 Lots\24.9 Years 1105 Units17.2 Years 832 Units _ EXISTING LOT INVENTORY - - - December 31, 2007 - ~~ CITY Op HAS'I'INflS SINGLE FAMILY Total Total Percent Subdivision (Final Platted) Lots Available Developed Bolkens 6th Addition 8 1 88% Century South 1st - 5th Additions 142 3 98% Eastenders 7 7 0% Featherstone Oaks 12 9 25% South Oaks of Hastings 2nd Addition 35 26 26% South Pines 4th - 6th Additions 63 3 95% Sunset West Phase 1 and 2 66 5 92% Wallin 4th Addition 16 1 94% Wallin 7th - 12th Addition 112 50 55% Williams 3rd Addition 14 5 64% Total 475 110 77% Annual Number of Permits (last 5 years) 61.4 Projected Single Family Lot Supply 1.8 Years TOWNHOME (2-10 units per bldg) Total Total Percent Subdivision (Final Platted) Lots Available Developed Glendale Heights 1st - 3rd Additions 300 34 89% Riverwood 7th - 8th Additions 105 54 49% South Oaks of Hastings 2nd Addition 60 25 58% Wallin 10th Addition 8 4 50% Total 473 117 75% Annual Number of Permits (last 5 years) 143 Projected Single Family Lot Supply 0.8 Years MULTI FAMILY (11+ units per bldg) Total Total Percent Subdivision (Final Platted) Lots Available Developed Riverwood 7th - 8th Additions 280 280 0% Three Rivers Place 40 40 0% Total 320 320 0% ~_ - ~• crrY or HRS'rIN6S FUTURE DEVELOPMENT December 31, 2007 Single Multi Multi Planned Development -Pendingapprova~ Family 2-10 Units 11+ Units Glendale Heights (Remaining) 214 Jorgenson (Tierney Dr) -lac 3 Riverwood (Remaining) 128 South Oaks (Remaining) 93 South Pines (Remaining) 68 50 Sunset West (Remaining) 17 Wallin (Remaining) 74 Total 162 271 214 Projected Lot Supply 2.6 Years 1.9 Years Single Multi Multi Potential Development - No approvals Given Family 2-10 Units 11+ Units Conzemius (West Pleasant Valley) - 160 ac 345 Solac (Featherstone Rd) - 4 ac 24 Eugene Bauer (Featherstone Rd) - 2 ac 5 Conzemius (Pleasant Dr -Featherstone - 1st) - 30 ac 45 135 Lawrence (Northridge & Pleasant) - 10 ac 30 Schmitt (Co Rd 46) - 11 ac 16 50 Loren & Willard Bauer (Co Rd 46) - 69 ac 104 310 Walter Bauer (Co Rd 46 & Pleasant) - 30 ac 16 50 Frank Sieben (Highview) - 11 ac 16 50 Conzemius\Finnegan - 160 ac 350 50 Siewert\KDWA Tower Site - 6 ac 48 Downtown Block 1 - 0.5 ac 40 Dakota Summit North (2010-20 MUSA) - 20 ac 200 Schoolhouse Square Condo - 2 ac 58 Bauer\West General Sieben (2005-10 MUSA) - 110 ac 330 Total 1257 717 298 Projected Lot Supply 20.5 Years 5.0 Years The 700. Market Updates for too Twin Cities Communities A free research tool from the Southern Twin Cities Association of REALTORS® Brought to you by the unique data-sharing traditions of the REALTOR® community Hastings Dakota County, MN 2006 2007 Change 2006 2007 Change New Listings 38 43 + 13.2% 726 717 - 1.2% Closed Sales 21 22 + 4.8% 299 305 + 2.0% Average Sales Price $199,502 $202,706 + 1.6% $231,144 $231,803 + 0.3% Percent of Original List Price Received at Sale* 93.9% 92.4% - 1.6% 96.2% 95.0% - 1.2% Average Days on Market Until Sale** 140 178 + 27.1 % NA 138 NA Single-Family Detached Inventory 114 141 + 23.7% -- -- -- Townhouse-Condo Inventory 96 80 - 16.7% -- -- -- *Dces not account far list prices from any previous listing contracts **City market time figures were first available in August 2006, accounts far previous listing contracts ***City inventory figures were first tracked in December 2006 Activity-Most Recent Month Activity-Year to Date 43 726 ~ New Listings 717 38 D New Listinr- Clo; Closed Sal 21 ____ 2006 Average Sales Price $199,502 $202,706 X2006 2007 November SOUTHERN TWIN CITIES ASSnCaATION OF REALTORS' r November Year to Date 2007 $231,144 $231,803 Year to Date 2006 2007 Ratio of Sales Price to Original List Price 93.9 % 92.4 % ~ 2006 96.2 % 95.0 November Year to Date Average Days on Market Until Sale Current Inventory 178 141 2006 `" 2006 140 138 2007 - B 2007 96 80 0 November Year to Date Single-Family Detached Townhouse-Condo Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look extreme due to the small sample size involved. For broader historical market information, please feel free to contact us. The 100© is a trademark of the Minneapolis Area Association of REALTORS. The Southern Twin Cities Association of REALTORS© uses it under license. Market Updates for too Twin Cities Communities A free research tool from the Southern Twin Cities Association of REALTORS® Brought to you by the unique data-sharing traditions of the REALTOR® community Twin Cities Region SOUTHERN TWIN CITIES ASSnCIATIC~N C)F REALTORS~° November Year to Date 13-County Region 2006 2007 Change 2006 2007 Change New Listings 5,981 6,147 + 2,g% 103,661 100,656 - 2.9% Closed Sales 3,244 2,618 - 19.3% 44,951 37,679 - 16.2% Average Sales Price $276,061 $269,438 - 2.4% $277,940 $275,313 - 0.9% Percent of Original List Price Received at Sale* 95.2% 92.4% - 2.9% 97.0% 94.9% - 2.2% Average Days on Market Until Sale** 132 148 + 12.1% NA 148 NA Single-Family Detached Inventory 18,657 21,044 + 12.8% -- -- -- Townhouse-Condo Inventory 8,890 9,082 + 2.2% -- -- -- *Dces not account for list prices from any previous listing contracts **City market time figures were first available in August 2006, accounts for previous listing contracts ***City inventory figures were first tracked in December 2006 Activity-Most Recent Month Activity-Year to Date 6,147 5,981 103,661 D New Listings 100,656 a New Listings ~ Closed S<'-- Closed Sales 3,244 2,618 44,951 ;, . ,, 2006 Average Sales Price $276,061 $269,438 November 2007 $277,940 $275,313 ~Z 0Z 2006 2007 Ratio of Sales Price to Original List Price 95.2 % 92.4 % ~ 2006 97.0 % 94.9 200 November Year to Date Average Days on Market Until Sale Inventory of Homes for Sale 148 148 132 21,044 p 2006 2006 18,657 .;?,,~,.r.: .: B 2007 t~ 2007 8:890 9,082 0 r - ____ _ ~ -- -~ November Year to Date Single-Family Detached Townhouse-Condo Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look extreme due to the small sample size involved. For broader historical market information, please feel free to contact us. The 100© is a trademark of the Minneapolis Area Association of REALTORS. The Southern Twin Cities Association of REALTORS©uses it under license. 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