Latest Numbers For Sioux City Show New Home Closings and Prices Gain
Posted on: Aug 08, 2014 11:50:07 AM
The Sioux City, IA market saw an increase in closings of new homes in April year-over-year, and the increase was greater than March 2014. New home closings moved from 1 a year earlier to 9 after the figure moved from 1 in March 2013 to 2 in March 2014.
New home closings were 9 out of 169 total closings, making up 5.3%. This is up on a percentage basis from 1 of 35 a year earlier. For new and existing homes, closings grew year-over-year in April after also increasing in March year-over-year.
The average price of new homes rose to $264,233 from last year's $50,000. This was on the heels of a 66.7% hike in March year-over-year.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.
The average unit size of newly sold homes fell from 2,302 square feet a year earlier to 1,890 square feet.