Prices of New Homes Gain in Huntsville, Sales Decline According to Newest Data
Posted on: Aug 08, 2014 11:27:00 AM
In the Huntsville, AL market in May, closings of new homes slid year-over-year, shifting downward off a surge in April 2014. New home closings saw a fall of 13.3% from the year earlier to 72. This came after a 22.9% jump year-over-year in April.
A total of 1,046 new homes were sold during the 12 months that ended in May, down from 1,057 for the year that ended in April.
New home closings made up 10.5% of overall housing closings. This is down from the a year earlier when new home closings made up 12.2% of total closings. After falling in April from a year earlier, closings of new and existing homes stayed steady in May.
Pricing and Mortgage Trends
Average price of newly sold homes had a 10.7% hike year-over-year to $258,937 per unit in May. This bump follows a move from $243,364 per unit in April 2013 to $244,122 in April 2014.
There was a hike year-over-year in the average mortgage size on new homes along with new home prices. The average mortgage size saw a 2.2% rise year-over-year to $218,516 in May. In April 2014, average mortgage size sank 6.2% from a year earlier.