Prices Of New Homes Stay Level in Santa Cruz, Sales Decrease According to Newest Data
Posted on: Apr 06, 2014 07:38:47 AM
Closings of new homes dropped year-over-year in January in the Santa Cruz, CA market, falling after remaining level in December from the year earlier. Closings stood at 2 in January after being 4 a year earlier and remaining unchanged at 7 in December from a year earlier.
A total of 106 new homes were sold during the 12 months that ended in January, down from 108 for the year that ended in December.
Last year, 4 of 175 total closings were new homes, and this percentage saw a decline as new home closings this year made up 2 of the 168 total closings. Closings of new and existing homes slid year-over-year in January after also falling in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes sold in January 2014 remained steady from a year earlier at $623,550. This was on the heels of a 46.9% boost in December year-over-year.
From the year-ago figure of $454,268, the average mortgage size on new homes moved up to $560,000. Average mortgage size on new homes went from $271,733 in December 2012 to $499,300 in December 2013.