Sales of new homes declined year-over-year in September in the Youngstown, OH market, dropping after a year-over-year increase in August 2011. New home sales moved from 10 a year earlier to three after the figure moved from seven in August 2010 to 13 in August 2011.

A total of 96 new homes were sold during the 12 months that ended in September, down from 103 for the year that ended in August.

New home sales accounted for three of the 432 total sales, a smaller percentage compared with 10 of 537 sales a year earlier. Sales of new and existing homes fell year-over-year in September after also falling in August year-over-year.

The average price for newly sold homes moved north to $202,433 from $161,739 a year ago. This was on the heels of a 23.4% bump in August year-over-year.

As a share of new home sales, single-family home sales have risen from last year while the share belonging to attached units has fallen. Single-family home sales made up all of new home sales after accounting for nine of 10 last year. Meanwhile, attached units made up no part of new home sales after making up one of 10 sales a year earlier.

Foreclosures and real estate owned (REO) sales declined in September from a year earlier, but stayed a drag on the market. Together, foreclosures plus REO sales represented 38.0% of existing home sales, down from 52.8% a year earlier. The percentage of existing home sales involving foreclosures fell to 18.9% in September from 25.8% a year earlier while REO sales as a percentage of existing home sales dipped to 19.1% from 26.9% a year earlier.

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