New Home Prices Climb in Santa Rosa According to Latest Figures, Sales Drop
Posted on: Jul 06, 2014 07:33:37 AM
In the Santa Rosa, CA market in April, closings of new homes declined year-over-year, and the decline was by a larger percentage than the March 2014. New home closings moved from 31 a year earlier to 12 after the figure moved from 23 in March 2013 to 21 in March 2014.
A total of 248 new homes were sold during the 12 months that ended in April, down from 267 for the year that ended in March.
New home closings represented 12 out of the 460 total closings, which is a smaller percentage than the 31 of 614 total closings a year earlier. For new and existing homes, closings sank in April after also declining in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $560,841 from last year's $460,110. This was on the heels of a 28.6% rise in March year-over-year.
There was a decline in average mortgage size on new homes, going from $353,200 last year to $322,888 in April 2014. Average mortgage size gained 3.9% in March 2014 from a year earlier.