Freshest Figures Indicate Prices of New Homes Gain, Sales Stay Level in El Centro
Posted on: Apr 06, 2014 07:12:26 AM
Closings of new homes in the El Centro, CA market saw no change year-over-year in January, staying level after a year-over-year increase in December from a year earlier. Closings remained level at 7 from a year earlier after the figure moved from 15 in December 2012 to 19 in December 2013.
A total of 159 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
New home closings were 7 out of 92 total closings, making up 7.6%. This is up on a percentage basis from 7 of 141 a year earlier. Closings of new and existing homes fell year-over-year in January after also falling in December year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $236,071 from $192,429 a year ago. This followed a 23.0% gain in December year-over-year.
Average mortgage size on new homes went from $186,026 a year earlier to $212,837. In December 2013, average mortgage size grew 16.6% from a year earlier.