Latest Figures Show New Home Sales and Prices Drop in Johnson City
Posted on: Jul 06, 2014 07:17:41 AM
New home closings in the Johnson City, TN market slid year-over-year in April, but the decline was less than the year-over-year decline in March. New home closings moved from 11 a year earlier to 6 after the figure moved from 5 in March 2013 to 2 in March 2014.
A total of 107 new homes were sold during the 12 months that ended in April, down from 112 for the year that ended in March.
On a percentage basis, new home closings as a part of total closings decreased to 2.2% from 4.0% a year earlier. Following a year-over-year increase in March, closings of new and existing homes slid year-over-year in April.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $211,333, down from last year's $227,564. This came after a 14.1% bump in March year-over-year.
There was a decline in average mortgage size on new homes, going from $221,456 last year to $179,840 in April 2014. Average mortgage size on new homes went from $182,445 in March 2013 to $163,460 in March 2014.