Latest Figures Show New Home Sales Climb in Elmira, Prices Fall
Posted on: Mar 06, 2014 07:12:57 AM
There was an increase in new home closings in the Elmira, NY market in December year-over-year, rebounding from a year-over-year decline in November 2013. New home closings moved from 5 a year earlier to 11 after the figure moved from 10 in November 2012 to 5 in November 2013.
A total of 99 new homes were sold during the 12 months that ended in December, up from 93 for the year that ended in November.
New home closings were 11 out of 262 total closings, making up 4.2%. This is up on a percentage basis from 5 of 273 a year earlier. Closings of new and existing homes fell year-over-year in December after also falling in November year-over-year.
Pricing and Mortgage Trends
The average new home price was $184,256, down from $247,857 a year earlier. This followed a 28.9% bump in November year-over-year.
The average mortgage size moved to $148,114, down from last year's $198,285. Average mortgage size on new homes went from $160,121 in November 2012 to $199,382 in November 2013.