New Home Sales and Prices Both Increase in El Centro According to Newest Data
Posted on: Feb 11, 2014 07:10:37 AM
There was a rise in closings of new homes in the El Centro, CA market in November year-over-year, rebounding from a year-over-year decline in October 2013. New home closings moved from 5 a year earlier to 19 after the figure moved from 15 in October 2012 to 8 in October 2013.
A total of 155 new homes were sold during the 12 months that ended in November, up from 141 for the year that ended in October.
New home closings were 19 of the 162 total closings, up on a percentage basis from 5 of 71 a year earlier. Closings of new and existing homes grew year-over-year in November following a fall in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $227,263 from last year's $220,700. This came after a 1.4% lift in October year-over-year.
The average mortgage size moved to $203,030, down from last year's $218,165. Average mortgage size on new homes went from $189,827 in October 2012 to $201,479 in October 2013.