New Home Sales and Prices Decrease in Vallejo According to Newest Data
Posted on: Dec 06, 2013 07:48:26 AM
In September, the Vallejo, CA market saw a fall year-over-year in new home closings, a move downward following a hike in August 2013. New home closings saw a 32.8% decline from a year earlier to 39. This was after the housing market saw a 23.8% boost year-over-year in August.
A total of 506 new homes were sold during the 12 months that ended in September, down from 525 for the year that ended in August.
As a percentage of overall housing closings, new home closings accounted for 7.3% of overall housing closings. A year ago, new home closings accounted for 8.2%. Following a year-over-year decline in August, closings of new and existing homes also slid year-over-year in September.
Pricing and Mortgage Trends
In September, the average price of newly sold homes fell year-over-year to $375,128 per unit, marking a 1.3% drop from the year-earlier figure. This drop compares to a 13.3% lift in August year-over-year.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. Average mortgage size slid 5.2% to $334,199 in September from a year earlier. Average mortgage size grew 6.8% in August 2013 from a year earlier.