Latest Figures Show New Home Sales and Prices Increase in Green Bay
Posted on: Dec 06, 2013 07:19:12 AM
In the Green Bay, WI market, new home closings rose year-over-year in August, but the market seemed to show signs of stabilizing as the percentage climbed was less than in July 2013. There was a 31.8% boost in new home closings from a year earlier. This came on the heels of a 40.0% jump year-over-year in July.
A total of 271 new homes were sold during the 12 months that ended in August, up from 264 for the year that ended in July.
New home closings made up 5.0% of overall housing closings. New home closings were 4.2% of overall closings last year. Following a year-over-year increase in July, closings of new and existing homes also gained year-over-year in August.
Pricing and Mortgage Trends
The average price of newly sold homes climbed year-over-year 3.0% in August to $186,738 per unit. This lift is smaller than the 13.1% surge in July year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. In August 2013, there was a 9.2% surge in the average mortgage size, reaching $175,722. Average mortgage size increased 25.0% in July 2013 from a year earlier.