Prices of New Homes Increase in Vineland, Sales Decrease According to Newest Data
Posted on: Jul 06, 2014 07:38:17 AM
The Vineland, NJ market saw a drop in new home closings year-over-year in April, and the decline was by a larger percentage than the March 2014. New home closings moved from 8 a year earlier to 3 after the figure moved from 7 in March 2013 to 5 in March 2014.
A total of 82 new homes were sold during the 12 months that ended in April, down from 87 for the year that ended in March.
New home closings were 3 out of the 100 total closings, down on a percentage basis from 8 of 88 a year earlier. Following a decline in March year-over-year, closings of new and existing homes jumped year-over-year in April.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $181,519 from $177,738 a year ago. This was on the heels of a 13.8% bump in March year-over-year.
Average mortgage size on new homes moved from $175,727 to $174,449. Average mortgage size on new homes went from $166,365 in March 2013 to $179,071 in March 2014.