New Home Sales Gain in Trenton, Prices Decline According to Freshest Data
Posted on: Mar 06, 2014 07:43:18 AM
In November, closings of new homes in the Trenton, NJ market jumped year-over-year, but the increase was less than October 2013. New home closings moved from 9 a year earlier to 12 after the figure moved from 6 in October 2012 to 17 in October 2013.
A total of 129 new homes were sold during the 12 months that ended in November, up from 126 for the year that ended in October.
New home closings were 12 out of 238 total closings, making up 5.0%. This is up on a percentage basis from 9 of 281 a year earlier. Following a year-over-year increase in October, closings of new and existing homes sank year-over-year in November.
Pricing and Mortgage Trends
The average new home price was $449,474, down from $523,664 a year earlier. This followed a 39.4% drop in October from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $337,407 to $321,075. Average mortgage size on new homes went from $437,398 in October 2012 to $325,911 in October 2013.