Newest Numbers Show New Home Closings Increase in Eau Claire, Prices Fall
Posted on: Apr 06, 2014 07:12:16 AM
Closings of new homes jumped year-over-year in December in the Eau Claire, WI market, rebounding from a year-over-year decline in November 2013. New home closings moved from 2 a year earlier to 4 after the figure moved from 6 in November 2012 to 5 in November 2013.
A total of 57 new homes were sold during the 12 months that ended in December, up from 55 for the year that ended in November.
New home closings were 4 out of 155 total closings, making up 2.6%. This is up on a percentage basis from 2 of 172 a year earlier. Following a period of little movement in November from a year earlier, closings of new and existing homes slid year-over-year in December.
Pricing and Mortgage Trends
The average value of newly sold homes in December 2013 was $240,800, down from last year's $263,450. This followed a 20.8% rise in November year-over-year.
From the year-ago figure of $170,900, the average mortgage size on new homes moved up to $230,583. Average mortgage size on new homes went from $91,595 in November 2012 to $148,185 in November 2013.