New Home Prices Climb in Louisville According to Recent Figures, Sales Fall
Posted on: Apr 06, 2014 07:24:52 AM
In December, there was a fall year-over-year in new home closings in the Louisville, KY market, moving downward after a lift in November 2013. New home closings saw a drop of 14.3% from the year earlier to 54. In comparison, new home closings in the same month last year saw a 57.8% climb year-over-year in November.
A total of 794 new homes were sold during the 12 months that ended in December, down from 803 for the year that ended in November.
Out of all housing closings, new home closings accounted for 5.6%. New home closings were 5.2% of overall closings last year. After rising year-over-year in November, closings of new and existing homes declined year-over-year in December.
Pricing and Mortgage Trends
Average price of newly sold homes had a 13.6% rise year-over-year to $348,650 per unit in December. This surge is smaller than the 22.3% boost in November year-over-year.
The average mortgage size on newly sold homes saw a rise year-over-year along with new home prices. It increased 11.6% in December from a year earlier to $276,380. Average mortgage size gained 17.1% in November 2013 from a year earlier.