Recent Figures Show New Home Prices Climb, Sales Decrease in Fort Collins
Posted on: Aug 08, 2014 11:22:04 AM
In the Fort Collins, CO market, new home closings declined year-over-year in May, curving down after an increase in April 2014. Closings slid 19.6% from a year earlier to 119. This followed a 33.3% boost year-over-year in April.
A total of 1,422 new homes were sold during the 12 months that ended in May, down from 1,451 for the year that ended in April.
New home closings accounted for 14.0% of overall housing closings. This is down from the a year earlier when new home closings made up 15.9% of total closings. After rising year-over-year in April, closings of new and existing homes dropped year-over-year in May.
Pricing and Mortgage Trends
In May, the average price of newly sold homes rose 20.8% year-over-year to $363,867 per unit. This bump is higher than the 15.6% surge in April year-over-year.
For newly sold homes, the average mortgage size rose year-over-year along with new home prices. In May 2014, average mortgage size rose 8.8% from a year earlier to $274,248. Average mortgage size jumped 20.8% in April 2014 from a year earlier.