New Home Sales and Prices Both Increase in Madera According to Latest Data
Posted on: Nov 12, 2013 07:28:16 AM
In the Madera, CA market, closings of new homes increased year-over-year in August, but the increase was less than July 2013. New home closings moved from 5 a year earlier to 8 after the figure moved from 2 in July 2012 to 5 in July 2013.
A total of 56 new homes were sold during the 12 months that ended in August, up from 53 for the year that ended in July.
New home closings were 8 of the 190 total closings, up on a percentage basis from 5 of 215 a year earlier. After rising year-over-year in July, closings of new and existing homes dropped year-over-year in August.
Pricing and Mortgage Trends
The average new home value went from $174,100 last year to $193,875. This came after a 29.3% gain in July year-over-year.
Average mortgage size on new homes went from $160,486 a year earlier to $187,753. Average mortgage size on new homes went from $139,127 in July 2012 to $185,456 in July 2013.