Recent Figures Show New Home Sales and Prices Drop in Greeley
Posted on: Apr 06, 2014 07:16:18 AM
In January, there was a fall year-over-year in new home closings in the Greeley, CO market, swinging downward off a year-over-year lift in December 2013. New home closings saw a drop of 6.0% from the year earlier to 63. This came after a 39.0% rise year-over-year in December.
A total of 992 new homes were sold during the 12 months that ended in January, down from 996 for the year that ended in December.
As a percentage of overall housing closings, new home closings represented 16.7% of overall housing closings. As a part of the whole, new home closings were 16.9% a year earlier. Following a year-over-year increase in December, closings of new and existing homes dropped year-over-year in January.
Pricing and Mortgage Trends
The average price of newly sold homes sank 3.3% year-over-year in January to $270,216 per unit. This decline compares to a 11.7% rise in December year-over-year.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. In January 2014, average mortgage size dropped 1.8% from a year earlier to $246,874. In December 2013, average mortgage size on newly sold homes saw a 11.2% surge year-over-year from a year earlier.