Latest Numbers Show New Home Closings Increase in Elkhart, Prices Fall
Posted on: Mar 06, 2014 07:12:48 AM
The Elkhart, IN market saw a rise in new home closings in December year-over-year, and the increase was greater than November 2013. New home closings moved from 3 a year earlier to 10 after the figure moved from 5 in November 2012 to 11 in November 2013.
A total of 114 new homes were sold during the 12 months that ended in December, up from 107 for the year that ended in November.
New home closings were 10 out of 117 total closings, making up 8.5%. This is up on a percentage basis from 3 of 109 a year earlier. After dropping in November from a year earlier, closings of new and existing homes climbed year-over-year in December.
Pricing and Mortgage Trends
The average per-unit price of new homes was $211,019, compared with $228,467 last year. This followed a 16.8% hike in November year-over-year.
The average mortgage size moved to $195,463, down from last year's $226,807. Average mortgage size on new homes went from $184,040 in November 2012 to $232,336 in November 2013.