Freshest Figures Show New Home Prices Increase, Sales Drop in Clarksville
Posted on: Jul 06, 2014 07:07:18 AM
Closings of new homes in the Clarksville, TN-KY market sank year-over-year in April, and the market seemed to be weakening with a percentage fall steeper than in March 2014. New home closings saw a 16.1% drop from a year earlier to 52. This followed a 1.8% drop year-over-year in March.
A total of 704 new homes were sold during the 12 months that ended in April, down from 714 for the year that ended in March.
As a percentage of overall housing closings, new home closings represented 9.2%. This is a drop 11.9% of closings a year earlier. For new and existing homes, closings gained year-over-year in April after also increasing in March year-over-year.
Pricing and Mortgage Trends
In April, the average value of new homes saw a 12.4% rise year-over-year as it grew to $214,002 per unit. This bump is better than the 7.3% boost in March year-over-year.
For newly sold homes, the average mortgage size saw a boost year-over-year along with new home prices. The average mortgage size saw a 15.3% lift year-over-year to $213,971 in April. Average mortgage size rose 3.9% in March 2014 from a year earlier.