Newest Numbers For Kingsport Show New Home Closings and Prices Increase
Posted on: Aug 08, 2014 11:29:53 AM
In the Kingsport, TN market, closings of new homes grew year-over-year in April, rebounding from a year-over-year decline in March 2014. New home closings moved from 3 a year earlier to 5 after the figure moved from 9 in March 2013 to 5 in March 2014.
A total of 46 new homes were sold during the 12 months that ended in April, up from 44 for the year that ended in March.
5 of the 306 total closings were new home closings, a shift on a percentage basis from 3 out of 310 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also fell year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes rose to $251,091 from last year's $205,187. This came after a 24.3% fall in March from a year earlier.
Average mortgage size on new homes fell from $222,373 to $213,133. Average mortgage size on new homes went from $201,613 in March 2013 to $157,994 in March 2014.