New Home Prices Climb in Santa Fe According to Latest Figures, Sales Decline
Posted on: Apr 06, 2014 07:38:56 AM
In January, the Santa Fe, NM market saw a fall year-over-year in new home closings, dropping after staying level in December. Closings stood at 9 in January after being 11 a year earlier and remaining unchanged at 16 in December from a year earlier.
A total of 148 new homes were sold during the 12 months that ended in January, down from 150 for the year that ended in December.
New home closings were 9 out of the 162 total closings, a move on a percentage basis from 11 of 220 a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.
Pricing and Mortgage Trends
The average new home value went from $220,031 last year to $297,436. This was on the heels of a 1.2% drop in December from a year earlier.
Average mortgage size on new homes rose from $197,711 to $254,836. Average mortgage size went from $230,071 in December 2012 to $231,782 in December 2013.