New Home Sales and Prices Both Gain in Olympia According to Recent Data
Posted on: May 06, 2013 07:27:12 AM
The Olympia, WA market saw a rise in new home closings in February year-over-year, swinging up after a decline in January 2013. New home closings saw a 71.1% hike from a year earlier to 65 after closings slid 12.5% in January from the year earlier.
A total of 671 new homes were sold during the 12 months that ended in February, up from 644 for the year that ended in January.
Out of all housing closings, new home closings made up 23.2%. This is better than the 19.1% of closings a year earlier. Following a year-over-year increase in January, closings of new and existing homes also jumped year-over-year in February.
Pricing and Mortgage Trends
In February, the average price of newly sold homes rose to $264,907 per unit, a 4.7% rise year-over-year. This is a reversal from the 7.5% decline in January from a year earlier.
The average mortgage size on newly sold homes saw a rise year-over-year along with new home prices. The average mortgage size saw a 7.0% rise year-over-year to $254,598 in February. In January 2013, average mortgage size fell 7.0% from a year earlier. On average, the percentage of new home sale price being financed saw a 2.0 percentage point rise from a year earlier. It went from 96.6% in January 2012 to 97.2% in January 2013.