Freshest Figures Show New Home Sales and Prices Gain in Mankato
Posted on: Feb 12, 2014 07:14:23 AM
There was a rise in closings of new homes in the Mankato, MN market in October year-over-year, and the increase was similar to September 2013. New home closings moved from 8 a year earlier to 11 after the figure moved from 8 in September 2012 to 11 in September 2013.
A total of 85 new homes were sold during the 12 months that ended in October, up from 82 for the year that ended in September.
New home closings were 11 of the 124 total closings, up on a percentage basis from 8 of 109 a year earlier. Following a year-over-year increase in September, closings of new and existing homes also increased year-over-year in October.
The average new home value went from $173,262 last year to $249,263. This was on the heels of a 29.3% bump in September year-over-year.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.