Freshest Numbers Show Prices of New Homes Gain in Appleton, Sales Decline
Posted on: Apr 06, 2014 07:02:08 AM
In January, the Appleton, WI market saw a decline year-over-year in new home closings, and the percentage drop was steeper than December 2013, suggesting the market may be worsening. There was a 16.7% fall in new home closings from a year earlier. This followed a 15.8% fall year-over-year in December.
A total of 233 new homes were sold during the 12 months that ended in January, down from 236 for the year that ended in December.
Out of all housing closings, new home closings made up 7.7%. A year earlier, new home closings made up 8.5% of total closings. For new and existing homes, closings fell in January after also declining in December year-over-year.
Pricing and Mortgage Trends
In January, the average value of new homes saw a 14.8% hike year-over-year as it grew to $209,802 per unit. This boost is smaller than the 30.6% bump in December year-over-year.
The average mortgage size on newly sold homes increased year-over-year along with the average price of new homes. It increased 18.7% in January from a year earlier to $202,979. In December 2013, average mortgage size climbed 15.6% from a year earlier.