Newest Numbers For Vineland Show New Home Closings Increase
Posted on: Apr 06, 2014 07:44:26 AM
The Vineland, NJ market saw a rise in new home closings in January year-over-year, rebounding from a year-over-year decline in December 2013. New home closings moved from 6 a year earlier to 10 after the figure moved from 10 in December 2012 to 8 in December 2013.
A total of 94 new homes were sold during the 12 months that ended in January, up from 90 for the year that ended in December.
New home closings were 10 of the 72 total closings, up on a percentage basis from 6 of 68 a year earlier. Closings of new and existing homes rose year-over-year in January following a fall in December year-over-year.
Pricing and Mortgage Trends
The average price for new homes was $199,935, moving from $199,523 last year. This followed a 26.8% drop in December from a year earlier.
Average mortgage size on new homes increased to $205,290 from $176,591 last year. Average mortgage size on new homes went from $169,989 in December 2012 to $192,802 in December 2013.