New Home Sales Rise in Cheyenne, Prices Drop According to Recent Data
Posted on: Apr 06, 2014 07:07:46 AM
In the Cheyenne, WY market, new home closings gained year-over-year in January, 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 30 in December 2012 to 24 in December 2013.
A total of 239 new homes were sold during the 12 months that ended in January, up from 235 for the year that ended in December.
New home closings were 10 out of 141 total closings, making up 7.1%. This is up on a percentage basis from 6 of 166 a year earlier. Following a year-over-year decline in December, closings of new and existing homes also declined year-over-year in January.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $264,819, down from last year's $377,080. This came after a 3.3% lift in December year-over-year.
The average mortgage size went down to $232,065 from $358,193 a year earlier. In December 2013, average mortgage size on newly sold homes saw a 2.0% surge year-over-year from a year earlier.