New Home Sales and Prices Both Gain in Mankato According to Recent Data
Posted on: Apr 06, 2014 07:25:49 AM
The Mankato, MN market saw a rise in new home closings in December year-over-year, but the increase was less than November 2013. New home closings moved from 3 a year earlier to 4 after the figure moved from 5 in November 2012 to 14 in November 2013.
A total of 99 new homes were sold during the 12 months that ended in December, up from 98 for the year that ended in November.
New home closings were 4 out of 78 total closings, making up 5.1%. This is up on a percentage basis from 3 of 111 a year earlier. Following a year-over-year decline in November, closings of new and existing homes also dropped year-over-year in December.
The average price for newly sold homes moved north to $258,457 from $216,467 a year ago. This came after a 28.9% boost in November year-over-year.
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.