New Home Sales and Prices Both Rise in Vineland According to Latest Data
Posted on: Dec 06, 2013 07:48:46 AM
New home closings in the Vineland, NJ market increased year-over-year in September,. Closings stood at 7 in September after being 6 a year earlier and remaining unchanged at 12 in August from a year earlier.
A total of 98 new homes were sold during the 12 months that ended in September, up from 97 for the year that ended in August.
New home closings were 7 out of the 115 total closings, down on a percentage basis from 6 of 72 a year earlier. For new and existing homes, closings rose year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $195,082 from $124,645 a year ago. This was on the heels of a 8.5% lift in August year-over-year.
Average mortgage size on new homes increased to $179,991 from $128,138 last year. Average mortgage size on new homes went from $149,069 in August 2012 to $170,218 in August 2013.