New Home Sales Increase in Champaign, Prices Drop According to Recent Data
Posted on: Apr 06, 2014 07:06:59 AM
The Champaign, IL market saw a rise in new home closings in January year-over-year, but the increase was less than December 2013. New home closings moved from 5 a year earlier to 9 after the figure moved from 9 in December 2012 to 18 in December 2013.
A total of 183 new homes were sold during the 12 months that ended in January, up from 179 for the year that ended in December.
New home closings were 9 out of 158 total closings, making up 5.7%. This is up on a percentage basis from 5 of 222 a year earlier. Following a year-over-year decline in December, closings of new and existing homes also slid year-over-year in January.
Pricing and Mortgage Trends
The average per-unit price of new homes was $243,056, compared with $268,100 last year. This came after a 27.7% lift in December year-over-year.
From the year-ago figure of $162,475, the average mortgage size on new homes moved up to $246,879. Average mortgage size on new homes went from $197,401 in December 2012 to $201,468 in December 2013.