New Home Sales and Prices Drop in Trenton According to Latest Data
Posted on: Aug 08, 2014 11:53:43 AM
New home closings in the Trenton, NJ market fell year-over-year in April, and the decline was by a larger percentage than the March 2014. New home closings moved from 9 a year earlier to 5 after the figure moved from 7 in March 2013 to 6 in March 2014.
A total of 109 new homes were sold during the 12 months that ended in April, down from 113 for the year that ended in March.
5 of the 235 total closings were new home closings, a shift on a percentage basis from 9 out of 310 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also sank year-over-year in April.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $332,753, down from last year's $396,826. This was on the heels of a 10.3% surge in March year-over-year.
Average mortgage size on new homes went from $311,141 a year earlier to $356,500. Average mortgage size on new homes went from $521,675 in March 2013 to $470,457 in March 2014.