Recent Figures Indicate New Home Closings in Champaign Fall
Posted on: Jul 06, 2014 07:05:59 AM
Closings of new homes dropped year-over-year in April in the Champaign, IL market, falling after a rise in March 2014. New home closings moved from 13 a year earlier to 11 after the figure moved from 8 in March 2013 to 9 in March 2014.
A total of 181 new homes were sold during the 12 months that ended in April, down from 183 for the year that ended in March.
New home closings were 11 out of the 241 total closings, a move on a percentage basis from 13 of 323 a year earlier. Following a year-over-year rise in March, closings of new and existing homes sank year-over-year in April.
Pricing and Mortgage Trends
The average new home price was $284,782, a move from $282,000 a year earlier. This followed a 23.8% fall in March from a year earlier.
The average mortgage size moved to $220,767, down from last year's $237,542. Average mortgage size on new homes went from $334,575 in March 2013 to $228,591 in March 2014.