Latest Numbers For Clarksville Show New Home Closings Increase
Posted on: Nov 12, 2013 07:09:13 AM
In August, closings of new homes in the Clarksville, TN-KY market grew year-over-year, on an upswing after a drop in July 2013. There was a 4.1% rise in new home closings from a year earlier. This was after the housing market saw a 13.0% drop year-over-year in July.
A total of 650 new homes were sold during the 12 months that ended in August, up from 647 for the year that ended in July.
As a percentage of overall housing closings, new home closings accounted for 12.9%. This is down from the a year earlier when new home closings represented 14.5% of total closings. For new and existing homes, closings gained year-over-year in August after also increasing in July year-over-year.
Pricing and Mortgage Trends
From August 2012 to August 2013, the average price of newly sold homes went from $197,313 to $196,959. This was on the heels of a 8.1% lift in July year-over-year.
The average mortgage size on newly sold homes rose year-over-year in contrast to the average price of new homes. In August 2013, the average mortgage size on newly sold homes saw a 4.0% lift from a year earlier. In July 2013, average mortgage size on newly sold homes saw a 6.2% rise year-over-year from a year earlier.