New Home Prices Gain in Santa Rosa According to Newest Figures, Sales Decrease
Posted on: Aug 08, 2014 11:48:57 AM
In May, the Santa Rosa, CA market saw a fall year-over-year in new home closings, but the decline was less than the year-over-year decline in April. New home closings moved from 33 a year earlier to 13 after the figure moved from 31 in April 2013 to 11 in April 2014.
A total of 224 new homes were sold during the 12 months that ended in May, down from 244 for the year that ended in April.
New home closings were 13 out of the 573 total closings, down on a percentage basis from 33 of 685 a year earlier. For new and existing homes, closings slid in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $528,000 from $449,303 a year ago. This came after a 17.9% lift in April year-over-year.
Average mortgage size on new homes increased to $379,379 from $357,739 last year. Average mortgage size on new homes went from $353,200 in April 2013 to $340,177 in April 2014.