The St. Cloud, MN market saw a rise in new home sales in October year-over-year, rebounding from a year-over-year decline in September 2011. New home sales moved from two a year earlier to four after the figure moved from three in September 2010 to two in September 2011.

A total of 41 new homes were sold during the 12 months that ended in October, up from 39 for the year that ended in September.

New home sales were four out of the 96 total sales, same on a percentage basis as a year earlier. Sales of new and existing homes increased year-over-year in October after also rising in September year-over-year.

The average per-unit price of new homes was $229,016 in October 2011, moving south from $299,500 a year earlier. This came after a more than threefold surge in September year-over-year.

The share of new home sales made up by attached units has risen while the share belonging to single-family homes has fallen. Attached sales made up two of four new home sales after accounting for no part of sales a year earlier. Meanwhile, single-family homes made up two of four new home sales after making up all of sales a year earlier.

Foreclosures and real estate owned (REO) sales remaining level in October from a year earlier and did not look to be a burden on the market. Together, foreclosures plus REO sales made up 23.9% of existing home sales, about the same as a year earlier. The percentage of existing home sales involving foreclosures stayed at no part of sales in October from a year earlier and REO sales as a percentage of existing home sales stayed level at 23.9%.

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