New Home Sales and Prices Both Gain in Elkhart According to Latest Data
Posted on: Apr 06, 2014 07:12:53 AM
In the Elkhart, IN market in January, closings of new homes rose year-over-year, but the increase was less than December 2013. New home closings moved from 7 a year earlier to 8 after the figure moved from 5 in December 2012 to 11 in December 2013.
A total of 122 new homes were sold during the 12 months that ended in January, up from 121 for the year that ended in December.
8 of the 219 total closings were new home closings, a shift on a percentage basis from 7 out of 231 a year earlier. Closings of new and existing homes declined year-over-year in January after also falling in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $223,875, an increase from $198,476 a year earlier. This was on the heels of a 25.7% drop in December from a year earlier.
The average mortgage size on new homes was $179,101, up from $164,841. Average mortgage size on new homes went from $198,285 in December 2012 to $148,114 in December 2013.