Recent Numbers Show New Home Prices Gain in El Centro, Sales Steady
Posted on: May 06, 2013 07:10:35 AM
New home closings in the El Centro, CA market remained steady year-over-year in February, staying level after a year-over-year increase in January from a year earlier. Closings remained level at five from a year earlier after the figure moved from four in January 2012 to seven in January 2013.
A total of 122 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
New home closings were five out of the 131 total closings, a move on a percentage basis from five of 177 a year earlier. For new and existing homes, closings dropped in February after also declining in January year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $198,000 from last year's $188,625. This followed a 10.2% boost in January year-over-year.
Average mortgage size on new homes rose from $189,473 to $194,336. Average mortgage size on new homes went from $154,579 in January 2012 to $186,026 in January 2013.