New Home Sales and Prices Both Rise in Morristown According to Recent Data
Posted on: Dec 06, 2013 07:31:49 AM
In the Morristown, TN market, closings of new homes rose year-over-year in September, rebounding from a year-over-year decline in August 2013. New home closings moved from 1 a year earlier to 3 after the figure moved from 3 in August 2012 to 2 in August 2013.
A total of 27 new homes were sold during the 12 months that ended in September, up from 25 for the year that ended in August.
3 of the 200 total closings were new home closings, a shift on a percentage basis from 1 out of 178 a year earlier. Closings of new and existing homes rose year-over-year in September after also rising in August year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $140,633 from last year's $123,000. This was on the heels of a 32.6% gain in August year-over-year.
Average mortgage size on new homes went from $125,510 a year earlier to $140,633. It went from $100,367 to $100,000 from August 2012 to August 2013.