Latest Numbers Show Prices of New Homes Climb in Fort Collins, Sales Fall
Posted on: Apr 06, 2014 07:14:35 AM
New home closings slid year-over-year in January in the Fort Collins, CO market, a move downward following a bump in December 2013. New home closings saw a 51.7% drop from a year earlier to 43. This came after a 22.0% boost year-over-year in December.
A total of 1,404 new homes were sold during the 12 months that ended in January, down from 1,450 for the year that ended in December.
As a percentage of overall housing closings, new home closings made up 13.6%. This is a fall 19.2% of closings a year earlier. After rising year-over-year in December, closings of new and existing homes declined year-over-year in January.
Pricing and Mortgage Trends
In January, the average price of newly sold homes gained 12.3% year-over-year to $314,512 per unit. This hike is smaller than the 16.7% rise in December year-over-year.
In January 2014, average mortgage size on new homes went from $233,978 in January 2013 to $232,111 in January 2014. Average mortgage size increased 13.5% in December 2013 from a year earlier.