Recent Figures Show New Home Sales and Prices Climb in Colorado Springs
Posted on: Sep 11, 2014 07:06:53 AM
In June, closings of new homes in the Colorado Springs, CO market increased year-over-year, snapping back from a decline in May 2014. There was a 4.3% rise in new home closings from a year earlier. In comparison, new home closings in the same month last year saw a 4.7% decline year-over-year in May.
A total of 2,160 new homes were sold during the 12 months that ended in June, up from 2,152 for the year that ended in May.
As a percentage of overall housing closings, new home closings made up 12.4% of overall housing closings. A year ago, 12.0% of total closings were new home closings. Following a fall in May year-over-year, closings of new and existing homes gained year-over-year in June.
Pricing and Mortgage Trends
For newly sold homes, the average price climbed 3.9% year-over-year in June to $316,782 per unit. This rise is higher than the 3.4% boost in May year-over-year.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. In June 2014, average mortgage size on new homes sold was $284,009, down 1.1% from a year earlier. Average mortgage size slid 2.8% in May 2014 from a year earlier.