Prices of New Homes Climb in Poughkeepsie, Sales Decline According to Newest Data
Posted on: Mar 06, 2014 07:34:08 AM
New home closings in the Poughkeepsie, NY market sank year-over-year in November, a move downward following a boost in October 2013. New home closings saw a 10.4% drop from a year earlier to 60. This followed a 85.4% boost year-over-year in October.
A total of 695 new homes were sold during the 12 months that ended in November, down from 702 for the year that ended in October.
Out of all housing closings, new home closings represented 12.9%. This is down from the 19.8% of closings a year earlier. For new and existing homes, closings rose year-over-year in November after also increasing in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $336,322 per unit in November, up 1.9%from a year earlier. This rise is smaller than the 21.3% hike in October year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. In November 2013, average mortgage size grew 9.5% from a year earlier to $270,614. In October 2013, average mortgage size on newly sold homes saw a 11.1% bump year-over-year from a year earlier.