New Home Sales and Prices Both Rise in Appleton According to Latest Data
Posted on: Feb 12, 2014 07:01:31 AM
Closings of new homes in the Appleton, WI market rose year-over-year in November, rebounding from a year-over-year fall in October 2013. Closings increased 88.2% from a year earlier to 32. In comparison, new home closings in the same month last year saw a 21.7% drop year-over-year in October.
A total of 238 new homes were sold during the 12 months that ended in November, up from 223 for the year that ended in October.
Out of all housing closings, new home closings represented 10.1%. This is better than the 6.9% of closings a year earlier. Following a year-over-year increase in October, closings of new and existing homes also grew year-over-year in November.
Pricing and Mortgage Trends
For newly sold homes, the average price rose 17.8% year-over-year in November to $233,068 per unit. This gain is smaller than the 19.7% rise in October year-over-year.
There was a lift year-over-year in the average mortgage size on new homes along with new home prices. It jumped to $219,956 in November, a 28.7% bump. It went from $154,789 to $153,648 from October 2012 to October 2013.