New Home Closings in Elizabethtown Gain, Prices Drop According to Recent Figures
Posted on: Apr 06, 2014 07:12:44 AM
New home closings jumped year-over-year in January in the Elizabethtown, KY market, but the increase was less than December 2013. New home closings moved from 8 a year earlier to 9 after the figure moved from 3 in December 2012 to 10 in December 2013.
A total of 115 new homes were sold during the 12 months that ended in January, up from 114 for the year that ended in December.
New home closings were 9.2% of total closings a year earlier, and this percentage saw a drop as new home closings this year made up 9 of the 150 total closings. Closings of new and existing homes jumped year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $226,689, compared with $247,300 last year. This was on the heels of a 7.6% decline in December from a year earlier.
The average mortgage size went down to $192,794 from $247,283 a year earlier. Average mortgage size on new homes went from $226,807 in December 2012 to $195,463 in December 2013.