New Home Sales and Prices Both Rise in State College According to Recent Data
Posted on: Mar 06, 2014 07:42:01 AM
The State College, PA market saw an increase in closings of new homes in December year-over-year, but the increase was less than November 2013. New home closings moved from 10 a year earlier to 11 after the figure moved from 11 in November 2012 to 13 in November 2013.
A total of 130 new homes were sold during the 12 months that ended in December, up from 129 for the year that ended in November.
New home closings were 11 out of 100 total closings, making up 11.0%. This is up on a percentage basis from 10 of 100 a year earlier. After rising in November from a year earlier, closings of new and existing homes stayed steady in December.
Pricing and Mortgage Trends
The average price of new homes was $310,258, an increase from $264,558 a year earlier. This was on the heels of a 1.8% rise in November year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $241,016 to $236,882. Average mortgage size on new homes went from $230,401 in November 2012 to $240,601 in November 2013.