Freshest Numbers Show Prices of New Homes Climb in El Centro, Sales Decrease
Posted on: Aug 08, 2014 11:19:23 AM
The El Centro, CA market saw a drop in new home closings year-over-year in May, a decline following a rise in April 2014. New home closings moved from 8 a year earlier to 7 after the figure moved from 6 in April 2013 to 15 in April 2014.
A total of 175 new homes were sold during the 12 months that ended in May, down from 176 for the year that ended in April.
New home closings were 7 out of the 119 total closings, a move on a percentage basis from 8 of 131 a year earlier. For new and existing homes, closings slid in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average new home price was $248,357, up from $191,250 a year earlier. This followed a 6.7% drop in April from a year earlier.
Average mortgage size on new homes increased to $242,801 from $185,493 last year. Average mortgage size on new homes went from $224,702 in April 2013 to $208,550 in April 2014.