Newest Figures Show New Home Sales and Prices Rise in Kingsport
Posted on: Mar 06, 2014 07:21:37 AM
There was a rise in new home closings in the Kingsport, TN market in November year-over-year, rebounding from a year-over-year decline in October 2013. New home closings moved from 3 a year earlier to 4 after the figure moved from 9 in October 2012 to 3 in October 2013.
A total of 64 new homes were sold during the 12 months that ended in November, up from 63 for the year that ended in October.
New home closings were 4 out of the 268 total closings, a move on a percentage basis from 3 of 301 a year earlier. Following a year-over-year decline in October, closings of new and existing homes also sank year-over-year in November.
Pricing and Mortgage Trends
The average price of new homes was $243,550, an increase from $113,083 a year earlier. This came after a 4.8% surge in October year-over-year.
Average mortgage size on new homes rose from $106,967 to $222,790. Average mortgage size on new homes went from $194,156 in October 2012 to $179,958 in October 2013.