Latest Figures Indicate Prices of New Homes Climb, Sales Stay Level in Santa Cruz
Posted on: Mar 06, 2014 07:38:50 AM
Closings of new homes in the Santa Cruz, CA market saw no change year-over-year in December, staying relatively stable after having decreased year-over-year in November. Closings remained level at 7 from a year earlier after the figure moved from 2 in November 2012 to none in November 2013.
New home closings were 7 out of the 193 total closings, a move on a percentage basis from 7 of 263 a year earlier. Closings of new and existing homes sank year-over-year in December after also falling in November year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $651,857 from $443,857 a year ago. This came after a.
Average mortgage size on new homes increased to $499,300 from $271,733 last year.
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.