New Home Sales Increase in Kingsport, Prices Decline According to Freshest Data
Posted on: Jul 06, 2014 07:18:36 AM
The Kingsport, TN market saw a rise in new home closings in March year-over-year, but the increase was less than February 2014. New home closings moved from 11 a year earlier to 12 after the figure moved from 4 in February 2013 to 5 in February 2014.
A total of 57 new homes were sold during the 12 months that ended in March, up from 56 for the year that ended in February.
New home closings were 12 out of the 284 total closings, a move on a percentage basis from 11 of 331 a year earlier. After rising year-over-year in February, closings of new and existing homes declined year-over-year in March.
Pricing and Mortgage Trends
The average per-unit price of new homes was $205,337, compared with $213,370 last year. This was on the heels of a 55.2% rise in February year-over-year.
The average mortgage size on new homes was $198,850, up from $195,503. Average mortgage size on new homes went from $277,848 in February 2013 to $204,322 in February 2014.