Freshest Numbers For State College Show New Home Closings and Prices Rise
Posted on: Apr 06, 2014 07:42:03 AM
There was an increase in new home closings in the State College, PA market in January year-over-year, and the increase was greater than December 2013. New home closings moved from 6 a year earlier to 8 after the figure moved from 10 in December 2012 to 11 in December 2013.
A total of 132 new homes were sold during the 12 months that ended in January, up from 130 for the year that ended in December.
New home closings were 8 out of 95 total closings, making up 8.4%. This is up on a percentage basis from 6 of 90 a year earlier. Closings of new and existing homes grew year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $353,487 from $269,048 a year ago. This came after a 17.3% bump in December year-over-year.
Average mortgage size on new homes went from $266,623 a year earlier to $332,503. Average mortgage size on new homes went from $241,016 in December 2012 to $236,882 in December 2013.