New Home Sales and Prices Fall in Atlantic City According to Latest Data
Posted on: Jul 06, 2014 07:02:14 AM
In the Atlantic City, NJ market, closings of new homes sank year-over-year in April, falling after a rise in March 2014. New home closings moved from 15 a year earlier to 8 after the figure moved from 11 in March 2013 to 14 in March 2014.
A total of 204 new homes were sold during the 12 months that ended in April, down from 211 for the year that ended in March.
New home closings were 8 out of the 264 total closings, down on a percentage basis from 15 of 298 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also dropped year-over-year in April.
Pricing and Mortgage Trends
The average per-unit price of new homes was $210,594, compared with $232,615 last year. This came after a 12.9% boost in March year-over-year.
Average mortgage size on new homes moved from $217,545 to $215,964. Average mortgage size on new homes went from $244,500 in March 2013 to $222,253 in March 2014.