Freshest Figures Show New Home Sales Gain in Ames, Prices Decrease
Posted on: Apr 06, 2014 07:01:29 AM
There was an increase in closings of new homes in the Ames, IA market in December year-over-year,. New home closings moved from 2 a year earlier to 11 after the figure moved from none in November 2012 to 7 in November 2013.
New home closings were 11 of the 113 total closings, up on a percentage basis from 2 of 23 a year earlier. For new and existing homes, closings grew year-over-year in December after also increasing in November year-over-year.
The average per-unit price of new homes was $276,645, compared with $375,433 last year. This followed a set of periods with no new home closings in both November 2013 or November 2012.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in December 2013.
Foreclosures and real estate owned (REO) closings continued to fall from a year earlier in December, but did not look to be a burden on the market. Out of all existing home closings, foreclosures combined with REO closings made up 14.7% of closings, below 28.6% a year earlier. The percentage of existing home closings involving foreclosures dropped to 5.9% in December from 14.3% a year earlier while REO closings as a percentage of existing home closings slid to 8.8% from 14.3% a year earlier.