New Home Sales Gain in Mankato, Prices Fall According to Newest Data
Posted on: May 13, 2014 07:26:00 AM
Closings of new homes in the Mankato, MN market rose year-over-year in January, and the increase was greater than December 2013. New home closings moved from 3 a year earlier to 7 after the figure moved from 3 in December 2012 to 4 in December 2013.
A total of 103 new homes were sold during the 12 months that ended in January, up from 99 for the year that ended in December.
New home closings were 7 of the 61 total closings, up on a percentage basis from 3 of 81 a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.
The average new home price was $169,811, down from $205,882 a year earlier. This was on the heels of a 19.4% hike in December 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 January 2014.