Recent Numbers Show New Home Prices Gain in Santa Rosa, Sales Steady
Posted on: Feb 11, 2014 07:35:12 AM
New home closings in the Santa Rosa, CA market were unchanged year-over-year in November, stabilizing after a drop in October from the year earlier. Closings remained steady from a year earlier at 22. There was a drop of 34.4% in new home closings in the same month last year.
A total of 255 new homes were sold during the 12 months that ended in November, equal to the number of new homes sold for the year that ended in October.
Closings of new homes made up 4.6% of total closings, consistent with last year's figures. After dropping in October from a year earlier, closings of new and existing homes grew year-over-year in November.
Pricing and Mortgage Trends
The average price of new homes increased year-over-year 2.4% in November to $503,209 per unit. This lift is smaller than the 5.9% gain in October year-over-year.
In November 2013, average mortgage size on new homes went from $395,001 in November 2012 to $392,024 in November 2013. In October 2013, average mortgage size on newly sold homes saw a 2.6% decline from a year earlier.