New Home Prices Climb in Denver According to Recent Figures, Sales Decrease
Posted on: Jun 06, 2014 07:12:16 AM
The Denver, CO market saw a drop in new home closings year-over-year in March, curving down after an increase in February 2014. There was a 3.5% drop in new home closings from a year earlier. This came after a 15.8% hike year-over-year in February.
A total of 5,573 new homes were sold during the 12 months that ended in March, down from 5,591 for the year that ended in February.
Out of all housing closings, new home closings accounted for 10.3%. A year ago, new home closings accounted for 9.7%. Closings of new and existing homes slid year-over-year in March after also falling in February year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price jumped 5.0% year-over-year in March to $410,484 per unit. This surge is smaller than the 8.1% rise in February year-over-year.
For newly sold homes, the average mortgage size saw a hike year-over-year along with new home prices. It rose to $333,975 in March, a 2.5% bump. Average mortgage size gained 3.8% in February 2014 from a year earlier.