New Home Prices Increase in Clarksville According to Latest Figures, Sales Drop
Posted on: Aug 08, 2014 11:14:42 AM
In the Clarksville, TN-KY market, closings of new homes declined year-over-year in May, but there were signs of market improvement with a percentage fall less steep than in April 2014. New home closings saw a drop of 2.0% from the year earlier to 49. This was after the housing market saw a 17.5% drop year-over-year in April.
A total of 676 new homes were sold during the 12 months that ended in May, down from 677 for the year that ended in April.
Of the total number of closings, new home closings made up 8.5%. A year ago, new home closings made up 9.1%. Following a year-over-year increase in April, closings of new and existing homes also jumped year-over-year in May.
Pricing and Mortgage Trends
For newly sold homes, the average price jumped 17.4% year-over-year in May to $232,342 per unit. This gain is an improvement over the 11.0% boost in April year-over-year.
The average mortgage size on newly sold homes grew year-over-year along with the average price of new homes. Average mortgage size gained 14.4% to $230,891 in May from a year earlier. In April 2014, average mortgage size rose 13.1% from a year earlier.