Latest Figures Show New Home Prices Increase, Sales Drop in Wausau
Posted on: May 06, 2013 07:39:07 AM
Closings of new homes dropped year-over-year in February in the Wausau, WI market, and the decline was by a larger percentage than the January 2013. New home closings moved from four a year earlier to one after the figure moved from seven in January 2012 to four in January 2013.
A total of 42 new homes were sold during the 12 months that ended in February, down from 45 for the year that ended in January.
Out of 126 total closings, one were of new homes, which makes up a smaller percentage than the four out of 143 total closings last year. After rising year-over-year in January, closings of new and existing homes fell year-over-year in February.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $175,000 from $111,650 a year ago. This came after a 15.7% gain in January year-over-year.
Average mortgage size on new homes increased to $171,765 from $153,000 last year. Average mortgage size on new homes went from $134,995 in January 2012 to $181,450 in January 2013.