Latest Figures Show New Home Sales Increase in El Centro, Prices Decrease
Posted on: Dec 06, 2013 07:14:06 AM
There was a rise in closings of new homes in the El Centro, CA market in September year-over-year, and the increase was greater than August 2013. New home closings moved from 4 a year earlier to 17 after the figure moved from 15 in August 2012 to 24 in August 2013.
A total of 148 new homes were sold during the 12 months that ended in September, up from 135 for the year that ended in August.
New home closings were 17 out of 135 total closings, making up 12.6%. This is up on a percentage basis from 4 of 188 a year earlier. For new and existing homes, closings fell in September after also declining in August year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in September 2013 was $198,235, down from last year's $228,125. This was on the heels of a 8.9% hike in August year-over-year.
Average mortgage size on new homes fell from $216,666 to $199,527. Average mortgage size climbed 2.3% in August 2013 from a year earlier.