Freshest Numbers Indicate New Home Closings and Prices Decrease in Johnson City
Posted on: Apr 06, 2014 07:20:23 AM
Closings of new homes sank year-over-year in January in the Johnson City, TN market, falling after a rise in December 2013. New home closings moved from 6 a year earlier to 5 after the figure moved from 9 in December 2012 to 19 in December 2013.
A total of 118 new homes were sold during the 12 months that ended in January, down from 119 for the year that ended in December.
New home closings were 5 out of the 206 total closings, a move on a percentage basis from 6 of 212 a year earlier. Following a year-over-year increase in December, closings of new and existing homes dropped year-over-year in January.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $213,293, down from last year's $238,629. This came after a 28.9% hike in December year-over-year.
Average mortgage size on new homes fell from $204,791 to $169,735. Average mortgage size on new homes went from $147,246 in December 2012 to $180,855 in December 2013.