Prices of New Homes Rise in Trenton, Sales Steady According to Latest Figures
Posted on: Jul 06, 2014 07:37:12 AM
New home closings in the Trenton, NJ market stayed the same year-over-year in March, remaining unchanged after minimal movement in February from the year earlier. Closings stayed at 7, unchanged from a year earlier after being consistent at 5 in February from the year earlier.
A total of 118 new homes were sold during the 12 months that ended in March, equal to the number of new homes sold for the year that ended in February.
7 of the 230 total closings were new home closings, a shift on a percentage basis from 7 out of 263 a year earlier. Closings of new and existing homes slid year-over-year in March after also falling in February year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $582,980 from $549,936 a year ago. This was on the heels of a 27.1% drop in February from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $521,675 to $447,249. Average mortgage size on new homes went from $383,996 in February 2013 to $315,513 in February 2014.