New Home Sales Increase in Morristown, Prices Decline According to Recent Data
Posted on: Mar 06, 2014 07:28:47 AM
The Morristown, TN market saw an increase in closings of new homes in December year-over-year, but the increase was less than November 2013. New home closings moved from 2 a year earlier to 3 after the figure moved from 1 in November 2012 to 2 in November 2013.
A total of 26 new homes were sold during the 12 months that ended in December, up from 25 for the year that ended in November.
New home closings were 3 out of the 142 total closings, a move on a percentage basis from 2 of 132 a year earlier. Following a year-over-year increase in November, closings of new and existing homes also jumped year-over-year in December.
Pricing and Mortgage Trends
The average per-unit price of new homes was $120,633, compared with $192,450 last year. This followed a 93.9% surge in November year-over-year.
The average mortgage size moved to $105,343, down from last year's $179,546. Average mortgage size on new homes went from $99,000 in November 2012 to $153,680 in November 2013.