Newest Numbers Show Prices of New Homes Rise in Flagstaff, Sales Decrease
Posted on: May 06, 2013 07:12:06 AM
In the Flagstaff, AZ market, new home closings fell year-over-year in February, dropping after staying level in January. Closings stood at one in February after being five a year earlier and remaining unchanged at one in January from a year earlier.
A total of 68 new homes were sold during the 12 months that ended in February, down from 72 for the year that ended in January.
New home closings were one of the 107 total closings, down on a percentage basis from five of 141 a year earlier. Closings of new and existing homes sank year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $284,900 in February 2013, moving north from $239,272 a year earlier. This came after a 36.7% fall in January from a year earlier.
The average mortgage size went down to $227,900 from $271,355 a year earlier.