Recent Numbers Show New Home Closings Climb in Appleton, Prices Decline
Posted on: Aug 08, 2014 11:07:26 AM
Closings of new homes in the Appleton, WI market jumped year-over-year in May, rebounding from a year-over-year decline in April 2014. New home closings moved from 11 a year earlier to 14 after the figure moved from 14 in April 2013 to 9 in April 2014.
A total of 196 new homes were sold during the 12 months that ended in May, up from 193 for the year that ended in April.
New home closings were 14 out of the 417 total closings, a move on a percentage basis from 11 of 408 a year earlier. Following a year-over-year increase in April, closings of new and existing homes also grew year-over-year in May.
Pricing and Mortgage Trends
The average value of newly sold homes in May 2014 was $207,571, down from last year's $231,100. This came after a 19.7% rise in April year-over-year.
The average mortgage size went down to $180,893 from $192,249 a year earlier. Average mortgage size on new homes went from $176,719 in April 2013 to $201,994 in April 2014.