New Home Sales Rise in York, Prices Drop According to Freshest Data
Posted on: Apr 06, 2014 07:46:55 AM
In the York, PA market, new home closings climbed year-over-year in December, picking up from a fall in November 2013. New home closings saw a 65.5% boost from a year earlier to 48. This came on the heels of a 22.9% drop year-over-year in November.
A total of 405 new homes were sold during the 12 months that ended in December, up from 386 for the year that ended in November.
New home closings made up 7.8% of overall housing closings. This is an increase on a percentage basis, as new home closings were 5.2% of total closings a year ago. Following a year-over-year increase in November, closings of new and existing homes also grew year-over-year in December.
Pricing and Mortgage Trends
For newly sold homes, the average price sank 1.7% year-over-year in December to $255,386 per unit. This fall compares to a 7.4% hike in November year-over-year.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. The average mortgage size sank to $224,653 in December, marking a 1.0% drop compared with last year. In November 2013, average mortgage size gained 5.7% from a year earlier.