New Home Prices Rise in Lexington According to Recent Figures, Sales Fall
Posted on: Aug 08, 2014 11:32:42 AM
Closings of new homes fell year-over-year in May in the Lexington, KY market, and the decline was by a larger percentage than the April 2014. New home closings moved from 8 a year earlier to 2 after the figure moved from 20 in April 2013 to 10 in April 2014.
A total of 75 new homes were sold during the 12 months that ended in May, down from 81 for the year that ended in April.
2 of the 550 total closings were new home closings, a shift on a percentage basis from 8 out of 625 a year earlier. For new and existing homes, closings sank in May after also declining in April year-over-year.
The average new home price was $294,894, up from $165,080 a year earlier. This followed a 17.5% rise in April year-over-year.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.