Newest Numbers For Green Bay Show New Home Closings and Prices Climb
Posted on: Mar 06, 2014 07:16:49 AM
Closings of new homes grew year-over-year in November in the Green Bay, WI market, rallying back from a drop in October 2013. New home closings saw a rise of 23.5% from the year earlier to 21. This came on the heels of a 20.8% drop year-over-year in October.
A total of 253 new homes were sold during the 12 months that ended in November, up from 249 for the year that ended in October.
Out of all housing closings, new home closings accounted for 7.7%. This is an increase on a percentage basis, as new home closings were 3.9% of total closings a year ago. For new and existing homes, closings dropped in November after also declining in October year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes climbed year-over-year to $218,081 in November, up 3.6% from last year. This gain is an improvement over the 3.0% hike in October year-over-year.
For newly sold homes, the average mortgage size slid year-over-year in contrast to average price of new homes. It fell 13.5% in November from a year earlier, reaching $167,298. In October 2013, average mortgage size on newly sold homes saw a 11.3% decline from a year earlier.