New Home Closings in Utica Climb, Prices Fall According to Recent Figures
Posted on: May 06, 2013 07:37:41 AM
Closings of new homes in the Utica, NY market gained year-over-year in January, rebounding from a year-over-year decline in December 2012. New home closings moved from one a year earlier to two after the figure moved from two in December 2011 to none in December 2012.
A total of nine new homes were sold during the 12 months that ended in January, up from eight for the year that ended in December.
Two of the 130 total closings were new home closings, a shift on a percentage basis from one out of 133 a year earlier. Closings of new and existing homes fell year-over-year in January after also falling in December year-over-year.
The average new home price was $282,000, down from $400,000 a year earlier. This followed a set of periods with no new home closings in both December 2012 or December 2011
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in January 2013. Single-family homes continued to account for all of new home closings.