Newest Figures Show New Home Sales and Prices Drop in Elizabethtown
Posted on: Aug 08, 2014 11:19:43 AM
In the Elizabethtown, KY market in May, new home closings dropped year-over-year, but the decline was less than the year-over-year decline in April. New home closings moved from 10 a year earlier to 5 after the figure moved from 8 in April 2013 to 3 in April 2014.
New home closings were 5 out of the 119 total closings, a move on a percentage basis from 10 of 225 a year earlier. Following a year-over-year decline in April, closings of new and existing homes also fell year-over-year in May.
Pricing and Mortgage Trends
The average per-unit price of new homes was $188,880, compared with $277,587 last year. This was on the heels of a 21.6% rise in April year-over-year.
Average mortgage size on new homes fell from $224,868 to $169,898. Average mortgage size on new homes went from $207,130 in April 2013 to $199,918 in April 2014.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.