Prices of New Homes Climb in Hanford, Sales Drop According to Newest Data
Posted on: Apr 06, 2014 07:17:14 AM
New home closings in the Hanford, CA market sank year-over-year in January, but the decline was less than the year-over-year decline in December. New home closings moved from 17 a year earlier to 10 after the figure moved from 25 in December 2012 to 11 in December 2013.
A total of 169 new homes were sold during the 12 months that ended in January, down from 176 for the year that ended in December.
Last year, 17 of 131 total closings were new homes, and this percentage saw a decline as new home closings this year made up 10 of the 88 total closings. For new and existing homes, closings declined in January after also declining in December year-over-year.
Pricing and Mortgage Trends
The average new home value went from $240,735 last year to $256,400. This followed a 13.8% bump in December year-over-year.
Average mortgage size on new homes increased to $248,411 from $237,255 last year. Average mortgage size on new homes went from $214,545 in December 2012 to $225,350 in December 2013.