New Home Sales and Prices Decrease in Olympia According to Freshest Data
Posted on: Dec 06, 2013 07:34:42 AM
New home closings in the Olympia, WA market fell year-over-year in September, a downhill move after a bump in August 2013. There was a 27.0% decline in new home closings from a year earlier. This came after a 39.4% jump year-over-year in August.
A total of 721 new homes were sold during the 12 months that ended in September, down from 738 for the year that ended in August.
As a percentage of overall housing closings, new home closings represented 12.5%. This is a drop 18.7% of closings a year earlier. Closings of new and existing homes jumped year-over-year in September after also rising in August year-over-year.
Pricing and Mortgage Trends
In September, there was a 2.3% drop year-over-year in the average per-unit price of newly sold homes, settling at $264,134. This decline compares to a 8.8% lift in August year-over-year.
The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. In September 2013, average mortgage size fell 2.1% from a year earlier to $245,979. In August 2013, average mortgage size grew 11.9% from a year earlier.