Newest Figures Show New Home Sales Climb in Santa Fe, Prices Fall
Posted on: Jun 06, 2014 07:42:42 AM
The Santa Fe, NM market saw a rise in new home closings in March year-over-year, rebounding from a year-over-year decline in February 2014. New home closings moved from 12 a year earlier to 14 after the figure moved from 14 in February 2013 to 11 in February 2014.
A total of 147 new homes were sold during the 12 months that ended in March, up from 145 for the year that ended in February.
New home closings were 14 out of 180 total closings, making up 7.8%. This is up on a percentage basis from 12 of 229 a year earlier. For new and existing homes, closings dropped in March after also declining in February year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in March 2014 was $189,725, down from last year's $254,752. This was on the heels of a 73.0% boost in February year-over-year.
The average mortgage size moved to $154,782, down from last year's $221,952. Average mortgage size on new homes went from $197,969 in February 2013 to $317,960 in February 2014.