Freshest Numbers For Grand Junction Show New Home Closings and Prices Rise
Posted on: Nov 12, 2013 07:17:25 AM
Closings of new homes in the Grand Junction, CO market rose year-over-year in August, but the increase was less than July 2013. New home closings moved from 17 a year earlier to 25 after the figure moved from 13 in July 2012 to 21 in July 2013.
A total of 199 new homes were sold during the 12 months that ended in August, up from 191 for the year that ended in July.
Of 300 total closings, 25 were of new homes. This marks a rise from 5.2% of total closings a year earlier. For new and existing homes, closings fell in August after also declining in July year-over-year.
Pricing and Mortgage Trends
In August, the average value of new homes saw a 24.0% hike year-over-year as it grew to $276,407 per unit. This gain is an improvement over the 12.9% rise in July year-over-year.
The average mortgage size on newly sold homes gained year-over-year along with the average price of new homes. Average mortgage size rose 16.7% to $249,482 in August from a year earlier. Average mortgage size on new homes went from $223,578 in July 2012 to $227,592 in July 2013.