New Home Closings and Prices in Eau Claire Rise According to Freshest Figures
Posted on: Aug 08, 2014 11:19:13 AM
The Eau Claire, WI market saw an increase in closings of new homes in April year-over-year, rebounding from a year-over-year decline in March 2014. New home closings moved from 1 a year earlier to 2 after the figure moved from 2 in March 2013 to 1 in March 2014.
New home closings were 2 out of the 168 total closings, a move on a percentage basis from 1 of 241 a year earlier. For new and existing homes, closings sank in April after also declining in March year-over-year.
The average price of new homes rose to $217,000 from last year's $169,500. This followed a 2.0% gain in March year-over-year.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in April 2014.
Foreclosures and real estate owned (REO) closings increased in April from a year earlier and did not appear to be dragging the market. Together, foreclosures plus REO closings made up 20.5% of existing home closings, up from 17.1% a year earlier. The percentage of existing home closings involving foreclosures rose to 10.8% in April from 7.9% a year earlier and REO closings moved from 9.2% of existing home closings in April 2013 to 9.6% in April 2014.