Newest Numbers For Madera Show New Home Closings and Prices Gain
Posted on: Jul 06, 2014 07:22:22 AM
In the Madera, CA market, closings of new homes increased year-over-year in April, and the increase was greater than March 2014. New home closings moved from 2 a year earlier to 7 after the figure moved from 2 in March 2013 to 6 in March 2014.
A total of 78 new homes were sold during the 12 months that ended in April, up from 73 for the year that ended in March.
New home closings were 7 out of 176 total closings, making up 4.0%. This is up on a percentage basis from 2 of 178 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also declined year-over-year in April.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $211,571 from $161,000 a year ago. This came after a 33.0% hike in March year-over-year.
Average mortgage size on new homes increased to $200,954 from $142,200 last year. Average mortgage size on new homes went from $133,197 in March 2013 to $204,416 in March 2014.