New Home Prices Rise in San Diego According to Newest Figures, Sales Fall
Posted on: Dec 06, 2013 07:42:01 AM
In the San Diego, CA market, closings of new homes slid year-over-year in September, a shift downward off a lift in August 2013. New home closings saw a fall of 6.0% from the year earlier to 265. This came on the heels of a 2.9% rise year-over-year in August.
A total of 3,170 new homes were sold during the 12 months that ended in September, down from 3,187 for the year that ended in August.
Out of all housing closings, new home closings represented 7.3%. As a part of the whole, new home closings were 7.4% a year earlier. Closings of new and existing homes sank year-over-year in September after also falling in August year-over-year.
Pricing and Mortgage Trends
In September, there was a 7.8% surge year-over-year in the average price of newly sold homes, reaching $566,709 per unit. This gain is an improvement over the 7.4% surge in August year-over-year.
Average mortgage size on new homes went from $428,540 in September 2012 to $431,314 in September 2013. In August 2013, average mortgage size gained 6.4% from a year earlier.