New Home Sales and Prices Both Gain in Fort Collins According to Latest Data
Posted on: Jul 06, 2014 07:12:34 AM
In the Fort Collins, CO market, new home closings jumped year-over-year in April, swinging up after a drop in March 2014. Closings gained 32.0% from a year earlier to 132. This was after the housing market saw a 9.2% drop year-over-year in March.
A total of 1,455 new homes were sold during the 12 months that ended in April, up from 1,423 for the year that ended in March.
Of 729 total closings, 132 were of new homes. This is an increase on a percentage basis, as new home closings were 14.1% of total closings a year ago. Closings of new and existing homes increased year-over-year in April following a drop in March year-over-year.
Pricing and Mortgage Trends
In April, the average price of newly sold homes grew 16.0% year-over-year to $331,805 per unit. This gain follows a move from $289,832 per unit in March 2013 to $292,136 in March 2014.
For newly sold homes, the average mortgage size saw a hike year-over-year along with new home prices. The average mortgage size saw a 21.5% lift year-over-year to $282,103 in April. In March 2014, average mortgage size on newly sold homes saw a 6.8% hike year-over-year from a year earlier.