Latest Numbers Show New Home Prices Climb in Santa Fe, Sales Steady
Posted on: Nov 12, 2013 07:43:02 AM
The Santa Fe, NM market saw no change in new home closings year-over-year in August, staying flat after advancing year-over-year in July from the year earlier. Closings remained level at 12 from a year earlier after the figure moved from 7 in July 2012 to 12 in July 2013.
A total of 120 new homes were sold during the 12 months that ended in August, equal to the number of new homes sold for the year that ended in July.
New home closings were 12 out of the 243 total closings, a move on a percentage basis from 12 of 274 a year earlier. Following a year-over-year rise in July, closings of new and existing homes sank year-over-year in August.
Pricing and Mortgage Trends
The average new home value went from $201,406 last year to $240,192. This followed a 13.3% fall in July from a year earlier.
From the year-ago figure of $176,806, the average mortgage size on new homes moved up to $202,828. Average mortgage size on new homes went from $227,297 in July 2012 to $197,820 in July 2013.