New Home Closings and Prices in Greeley Climb According to Latest Figures
Posted on: Mar 06, 2014 07:16:39 AM
There was a rise in new home closings in the Greeley, CO market in December year-over-year, but the percentage bump was less than November 2013, suggesting the market may be leveling. Closings rose 37.8% from a year earlier to 113. This was after the housing market saw a 98.1% climb year-over-year in November.
A total of 996 new homes were sold during the 12 months that ended in December, up from 965 for the year that ended in November.
Out of all housing closings, new home closings represented 22.9%. This marks a rise from 18.9% of total closings a year earlier. Closings of new and existing homes grew year-over-year in December after also rising in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes jumped year-over-year 11.9% in December to $306,139 per unit. This surge is higher than the 5.7% hike in November year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. It grew 11.5% in December from a year earlier to $278,507. In November 2013, average mortgage size gained 6.2% from a year earlier.