New Home Sales and Prices Both Rise in Grand Junction According to Freshest Data
Posted on: May 06, 2013 07:13:53 AM
In February, closings of new homes grew year-over-year in the Grand Junction, CO market, rebounding from a year-over-year decline in January 2013. New home closings moved from four a year earlier to eight after the figure moved from 12 in January 2012 to 10 in January 2013.
A total of 184 new homes were sold during the 12 months that ended in February, up from 180 for the year that ended in January.
New home closings were eight of the 221 total closings, up on a percentage basis from four of 200 a year earlier. After dropping in January from a year earlier, closings of new and existing homes increased year-over-year in February.
Pricing and Mortgage Trends
The average new home price was $227,719, up from $182,925 a year earlier. This was on the heels of a 7.8% rise in January year-over-year.
The average mortgage size on new homes was $206,666, up from $182,839. Average mortgage size on new homes went from $170,382 in January 2012 to $168,609 in January 2013. The overall percentage of sale price that was being financed dipped 9.2 percentage points year-over-year to 90.8% in February 2013.