New Home Sales and Prices Both Rise in Champaign According to Newest Data
Posted on: Mar 06, 2014 07:07:00 AM
In the Champaign, IL market, closings of new homes grew year-over-year in December, but the increase was less than November 2013. New home closings moved from 9 a year earlier to 18 after the figure moved from 4 in November 2012 to 14 in November 2013.
A total of 179 new homes were sold during the 12 months that ended in December, up from 170 for the year that ended in November.
New home closings were 18 of the 241 total closings, up on a percentage basis from 9 of 250 a year earlier. For new and existing homes, closings fell in December after also declining in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $277,250, an increase from $217,056 a year earlier. This came after a 17.1% hike in November year-over-year.
The average mortgage size on new homes was $201,468, up from $197,401. Average mortgage size on new homes went from $188,925 in November 2012 to $208,752 in November 2013.