New Home Prices Rise in Kingston According to Recent Figures, Sales Drop
Posted on: May 06, 2013 07:18:56 AM
In January, the Kingston, NY market saw a decline year-over-year in new home closings, but the decline was less than the year-over-year decline in December. New home closings moved from four a year earlier to one after the figure moved from two in December 2011 to none in December 2012.
A total of 13 new homes were sold during the 12 months that ended in January, down from 16 for the year that ended in December.
New home closings were one out of the 75 total closings, down on a percentage basis from four of 99 a year earlier. Following a year-over-year decline in December, closings of new and existing homes also sank year-over-year in January.
Pricing and Mortgage Trends
The average price of new homes was $310,000, an increase from $247,725 a year earlier. This was on the heels of a set of periods with no new home closings in both December 2012 or December 2011
Average mortgage size on new homes rose from $200,483 to $228,000.