New Home Sales and Prices Both Increase in Evansville According to Latest Data
Posted on: Jul 06, 2014 07:11:39 AM
New home closings in the Evansville, IN market jumped year-over-year in March, rebounding from a year-over-year decline in February 2014. New home closings moved from 9 a year earlier to 15 after the figure moved from 14 in February 2013 to 13 in February 2014.
A total of 215 new homes were sold during the 12 months that ended in March, up from 209 for the year that ended in February.
New home closings were 15 out of 463 total closings, making up 3.2%. This is up on a percentage basis from 9 of 468 a year earlier. Following a year-over-year decline in February, closings of new and existing homes also sank year-over-year in March.
Pricing and Mortgage Trends
The average price of new homes was $242,195, an increase from $189,158 a year earlier. This followed a 25.2% bump in February year-over-year.
Average mortgage size on new homes went from $157,991 a year earlier to $197,942. Average mortgage size on new homes went from $175,044 in February 2013 to $217,835 in February 2014.