New Home Closings in York Climb, Prices Drop According to Recent Figures
Posted on: Jul 06, 2014 07:40:30 AM
Closings of new homes rose year-over-year in March in the York, PA market, picking up from a drop in February 2014. New home closings saw a climb of 10.7% from the year earlier to 31. This came on the heels of a 29.6% decline year-over-year in February.
A total of 398 new homes were sold during the 12 months that ended in March, up from 395 for the year that ended in February.
As a percentage of overall housing closings, new home closings made up 7.7%. This marks a rise from 5.8% of total closings a year earlier. After rising year-over-year in February, closings of new and existing homes declined year-over-year in March.
Pricing and Mortgage Trends
The average price of newly sold homes dropped 7.2% year-over-year in March to $238,970 per unit. This fall compares to a period of little change in February from a year earlier.
For newly sold homes, the average mortgage size sank year-over-year in contrast to average price of new homes. In March 2014, the average mortgage size on newly sold homes saw a 10.4% fall from a year earlier. Average mortgage size climbed 2.6% in February 2014 from a year earlier.