Newest Figures Indicate Prices of New Homes Climb, Sales Stay Level in Kingston
Posted on: Oct 06, 2013 07:22:04 AM
Closings of new homes in the Kingston, NY market remained unchanged year-over-year in June, staying flat after dropping year-over-year in May from the year earlier. Closings remained level at 1 from a year earlier after the figure moved from 4 in May 2012 to none in May 2013.
Out of the 133 total closings, 1 were new home closings. This is consistent on a percentage basis with a year earlier. After rising year-over-year in May, closings of new and existing homes sank year-over-year in June.
The average price of new homes was $315,000, an increase from $265,000 a year earlier. This came after a.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in June 2013.
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in June, but did not appear to be dragging the market. Foreclosures and REO closings, taken together, accounted for 11.4% of existing closings, lower than 14.5% a year earlier. The percentage of existing home closings involving foreclosures went from 8.3% in June 2012 to 7.6% in June 2013 and REO closings as a percentage of existing home closings fell to 3.8% from 6.2% a year earlier.