Modesto, CA - Local Housing Data - Summary

Change location:

Region

State

City

Modesto, CA

You have successfully subscribed to the local housing data e-newsletter for .

If you wish to receive monthly updates for other market areas please subscribe to new markets using our expanded form.

 
 
 
 
Unlock charts and graphs!

Once registered, see a dozen additional charts on 366 cities around the US.

 
Enlarge

Modesto, CA Local News

Prices of New Homes Rise in Modesto, Sales Drop According to Recent Data

Posted on: Jul 06, 2014 07:24:32 AM

In the Modesto, CA market, new home closings dropped year-over-year in April, and the decline was by a larger percentage than the March 2014. New home closings moved from 16 a year earlier to 4 after the figure moved from 12 in March 2013 to 8 in March 2014.

A total of 143 new homes were sold during the 12 months that ended in April, down from 155 for the year that ended in March.

New home closings were 2.4% of total closings a year earlier, and this percentage saw a drop as new home closings this year made up 4 of the 626 total closings. 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 new home price was $279,500, up from $251,500 a year earlier. This followed a 10.6% fall in March from a year earlier.

Average mortgage size on new homes fell from $250,469 to $169,001. Average mortgage size on new homes went from $246,484 in March 2013 to $252,863 in March 2014.

 
 
 

Change location:

Region

State

City

 
 

Join the Discussion

Please read our Content Guidelines before posting.