New Home Closings in Boulder Increase, Prices Decrease According to Newest Figures
Posted on: Dec 06, 2013 07:06:18 AM
In the Boulder, CO market, new home closings jumped year-over-year in September, and the percentage boost was better than August 2013, suggesting the market may be strengthening. New home closings saw a 21.2% boost from a year earlier to 40. This followed a 10.9% hike year-over-year in August.
A total of 450 new homes were sold during the 12 months that ended in September, up from 443 for the year that ended in August.
Of 476 total closings, 40 were of new homes. This is a bump from 7.0% of closings a year earlier. After rising in August from a year earlier, closings of new and existing homes stayed steady in September.
Pricing and Mortgage Trends
In September, the average per-unit price of new homes declined by 4.3% year-over-year to $421,384. This decline is a drop off from the 21.3% drop in August from a year earlier.
Average mortgage size on new homes saw a fall year-over-year in contrast to prices of new homes. In September 2013, average mortgage size on new homes sold was $328,708, down 5.3% from a year earlier. Average mortgage size slid 14.9% in August 2013 from a year earlier.