New Home Sales and Prices Both Climb in Santa Cruz According to Recent Data
Posted on: Dec 06, 2013 07:42:53 AM
In September, closings of new homes gained year-over-year in the Santa Cruz, CA market, and the increase was greater than August 2013. New home closings moved from 5 a year earlier to 12 after the figure moved from 9 in August 2012 to 15 in August 2013.
New home closings were 12 of the 227 total closings, up on a percentage basis from 5 of 282 a year earlier. Following a year-over-year decline in August, closings of new and existing homes also dropped year-over-year in September.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $577,958 from $567,600 a year ago. This was on the heels of a 53.6% surge in August year-over-year.
Average mortgage size on new homes went from $379,840 a year earlier to $501,553. Average mortgage size on new homes went from $304,367 in August 2012 to $495,918 in August 2013.
Other Market Trends
The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.