New Home Sales and Prices Both Increase in Boulder According to Recent Data
Posted on: Aug 08, 2014 11:11:02 AM
In May, closings of new homes in the Boulder, CO market grew year-over-year, but the percentage surge was less pronounced than April 2014, indicating the market may be leveling out. There was a 26.1% hike in new home closings from a year earlier. This followed a 45.8% climb year-over-year in April.
A total of 458 new homes were sold during the 12 months that ended in May, up from 446 for the year that ended in April.
Out of all housing closings, new home closings represented 8.7%. This is an increase on a percentage basis, as new home closings were 6.5% of total closings a year ago. Following a year-over-year rise in April, closings of new and existing homes declined year-over-year in May.
Pricing and Mortgage Trends
For newly sold homes, the average price increased 6.8% year-over-year in May to $480,522 per unit. This hike is higher than the 4.8% lift in April year-over-year.
For newly sold homes, the average mortgage size saw a surge year-over-year along with new home prices. It increased to $333,370 in May, a 19.2% hike. Average mortgage size grew 31.9% in April 2014 from a year earlier.