Latest Figures Show New Home Prices Increase, Sales Fall in Napa
Posted on: Aug 08, 2014 11:38:15 AM
The Napa, CA market saw a drop in new home closings year-over-year in May, a decline following a rise in April 2014. New home closings moved from 3 a year earlier to 2 after the figure moved from 1 in April 2013 to 2 in April 2014.
A total of 32 new homes were sold during the 12 months that ended in May, down from 33 for the year that ended in April.
New home closings were 2 out of the 121 total closings, a move on a percentage basis from 3 of 166 a year earlier. For new and existing homes, closings declined in May after also declining in April year-over-year.
The average price for newly sold homes moved north to $891,750 from $623,867 a year ago. This came after a 4.3% decline in April from a year earlier.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.