New Home Sales Remain Level in Champaign, Prices Decline According to Latest Data
Posted on: Dec 06, 2013 07:08:13 AM
Closings of new homes in the Champaign, IL market remained unchanged year-over-year in September, staying level after a year-over-year increase in August from a year earlier. Closings remained level at 9 from a year earlier after the figure moved from 20 in August 2012 to 25 in August 2013.
A total of 159 new homes were sold during the 12 months that ended in September, equal to the number of new homes sold for the year that ended in August.
9 of the 256 total closings were new home closings, a shift on a percentage basis from 9 out of 247 a year earlier. Following a fall in August year-over-year, closings of new and existing homes jumped year-over-year in September.
Pricing and Mortgage Trends
The average new home price was $267,722, down from $276,278 a year earlier. This came after a move from $299,025 per unit to $297,028 from August 2012 to August 2013.
Average mortgage size on newly sold homes saw a decline year-over-year from $266,991 to $226,742. In August 2013, average mortgage size on newly sold homes saw a 6.5% gain year-over-year from a year earlier.