New Home Closings and Prices in Salinas Increase According to Freshest Figures
Posted on: Dec 06, 2013 07:41:09 AM
There was a rise in closings of new homes in the Salinas, CA market in September year-over-year,. Closings stood at 5 in September after being 4 a year earlier and remaining unchanged at 5 in August from a year earlier.
5 of the 329 total closings were new home closings, a shift on a percentage basis from 4 out of 389 a year earlier. Following a year-over-year decline in August, closings of new and existing homes also declined year-over-year in September.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $302,800 from $242,750 a year ago. This followed a 12.9% rise in August year-over-year.
From the year-ago figure of $232,743, the average mortgage size on new homes moved up to $295,383. Average mortgage size on new homes went from $227,316 in August 2012 to $262,860 in August 2013.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.