Newest Figures Show New Home Sales and Prices Climb in Madera
Posted on: Apr 06, 2014 07:25:21 AM
The Madera, CA market saw a rise in new home closings in January year-over-year, and the increase was greater than December 2013. New home closings moved from 1 a year earlier to 13 after the figure moved from 7 in December 2012 to 10 in December 2013.
A total of 63 new homes were sold during the 12 months that ended in January, up from 51 for the year that ended in December.
New home closings were 13 out of 134 total closings, making up 9.7%. This is up on a percentage basis from 1 of 173 a year earlier. Closings of new and existing homes declined year-over-year in January after also falling in December year-over-year.
Pricing and Mortgage Trends
The average new home value went from $160,000 last year to $184,815. This was on the heels of a 40.3% fall in December from a year earlier.
From the year-ago figure of $159,668, the average mortgage size on new homes moved up to $177,514. Average mortgage size on new homes went from $177,904 in December 2012 to $213,409 in December 2013.