New Home Sales and Prices Decrease in Madera According to Newest Data
Posted on: May 06, 2013 07:22:30 AM
In the Madera, CA market in February, closings of new homes dropped year-over-year, and the decline was by a larger percentage than the January 2013. New home closings moved from 11 a year earlier to five after the figure moved from four in January 2012 to two in January 2013.
A total of 71 new homes were sold during the 12 months that ended in February, down from 77 for the year that ended in January.
Out of 172 total closings, five were of new homes, which makes up a smaller percentage than the 11 out of 219 total closings last year. Closings of new and existing homes declined year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $138,000, down from $152,682 a year earlier. This came after a 25.1% decline in January from a year earlier.
There was a decline in average mortgage size on new homes, going from $142,191 last year to $137,937 in February 2013. Average mortgage size on new homes went from $169,560 in January 2012 to $159,668 in January 2013.