New Home Closings in Prescott Climb, Prices Decline According to Latest Figures
Posted on: Dec 06, 2013 07:37:48 AM
There was an increase in closings of new homes in the Prescott, AZ market in September year-over-year, and the increase was greater than August 2013. New home closings moved from 14 a year earlier to 25 after the figure moved from 19 in August 2012 to 26 in August 2013.
A total of 298 new homes were sold during the 12 months that ended in September, up from 287 for the year that ended in August.
New home closings were 25 out of 353 total closings, making up 7.1%. This is up on a percentage basis from 14 of 412 a year earlier. For new and existing homes, closings fell in September after also declining in August year-over-year.
Pricing and Mortgage Trends
The average new home price was $282,019, down from $316,058 a year earlier. This followed a 9.2% decline in August from a year earlier.
Average mortgage size on new homes moved from $206,729 to $205,393. In August 2013, average mortgage size on newly sold homes saw a 8.2% fall from a year earlier.