Freshest Numbers Show Prices of New Homes Rise in St. George, Sales Drop
Posted on: Mar 06, 2014 07:41:33 AM
In the St. George, UT market, closings of new homes dropped year-over-year in December, sliding down after a hike in November 2013. New home closings saw a decline of 5.9% from the year earlier to 48. This came after a 41.2% jump year-over-year in November.
A total of 668 new homes were sold during the 12 months that ended in December, down from 671 for the year that ended in November.
New home closings represented 12.2% of overall housing closings. They made up 12.8% of closings a year earlier. After being steady in November from a year earlier, closings of new and existing homes remained level in December.
Pricing and Mortgage Trends
The average price of new homes was $407,039 per unit in December, up 19.0%from a year earlier. This hike is better than the 3.7% boost in November year-over-year.
There was a lift year-over-year in the average mortgage size on new homes along with new home prices. Average mortgage size increased 21.0% to $370,435 in December from a year earlier. It went from $284,271 to $285,221 from November 2012 to November 2013.