New Home Closings and Prices in Vallejo Gain According to Newest Figures
Posted on: Mar 06, 2014 07:44:15 AM
In the Vallejo, CA market, new home closings rose year-over-year in December, picking up from a decline in November 2013. New home closings saw a climb of 3.0% from the year earlier to 34. This followed a 41.7% drop year-over-year in November.
A total of 468 new homes were sold during the 12 months that ended in December, up from 467 for the year that ended in November.
Of 514 total closings, 34 were of new homes. This is better than the 5.1% of closings a year earlier. Following a year-over-year decline in November, closings of new and existing homes also declined year-over-year in December.
Pricing and Mortgage Trends
In December, there was a 16.4% boost year-over-year in the average price of newly sold homes, reaching $436,368 per unit. This surge is an improvement over the 4.2% rise in November year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In December 2013, average mortgage size gained 8.3% from a year earlier to $378,608. In November 2013, average mortgage size sank 8.6% from a year earlier.