New Home Closings and Prices in Chico Increase According to Freshest Figures
Posted on: Mar 06, 2014 07:08:03 AM
New home closings in the Chico, CA market jumped year-over-year in December, but the increase was less than November 2013. New home closings moved from 8 a year earlier to 19 after the figure moved from 7 in November 2012 to 20 in November 2013.
A total of 207 new homes were sold during the 12 months that ended in December, up from 196 for the year that ended in November.
New home closings were 19 out of 336 total closings, making up 5.7%. This is up on a percentage basis from 8 of 311 a year earlier. Closings of new and existing homes grew year-over-year in December after also rising in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $351,816 from last year's $298,438. This came after a 3.3% decline in November from a year earlier.
Average mortgage size on new homes increased to $284,840 from $220,347 last year. Average mortgage size on new homes went from $261,441 in November 2012 to $270,276 in November 2013.