Chico New Home Sales Climb According to Latest Numbers
Posted on: Apr 06, 2014 07:08:06 AM
The Chico, CA market saw an increase in closings of new homes in January year-over-year, but the increase was less than December 2013. New home closings moved from 7 a year earlier to 12 after the figure moved from 8 in December 2012 to 19 in December 2013.
A total of 212 new homes were sold during the 12 months that ended in January, up from 207 for the year that ended in December.
New home closings were 12 out of 256 total closings, making up 4.7%. This is up on a percentage basis from 7 of 272 a year earlier. Following a year-over-year rise in December, closings of new and existing homes declined year-over-year in January.
Pricing and Mortgage Trends
The average price for new homes in January 2014 was $321,958, a shift from $320,214 last year. This came after a 17.9% gain in December year-over-year.
The average mortgage size went down to $247,171 from $295,755 a year earlier. Average mortgage size on new homes went from $220,347 in December 2012 to $284,840 in December 2013.