Prices of New Homes Rise in Janesville, Sales Decline According to Latest Data
Posted on: Jul 06, 2014 07:17:33 AM
Closings of new homes slid year-over-year in March in the Janesville, WI market, but the decline was less than the year-over-year decline in February. New home closings moved from 3 a year earlier to 2 after the figure moved from 3 in February 2013 to none in February 2014.
2 of the 126 total closings were new home closings, a shift on a percentage basis from 3 out of 203 a year earlier. For new and existing homes, closings declined in March after also declining in February year-over-year.
The average price for newly sold homes moved north to $188,400 from $160,967 a year ago. This was on the heels of a.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in March 2014.
Foreclosures and real estate owned (REO) closings continued to drop from a year earlier in March, but did not appear to be dragging the market. Combined, foreclosures plus REO closings accounted for 19.4% of existing home closings, below 38.0% a year earlier. The percentage of existing home closings involving foreclosures fell to 12.1% in March from 17.5% a year earlier while REO closings as a percentage of existing home closings dropped to 7.3% from 20.5% a year earlier.