Prices of New Homes Climb in Yuba City, Sales Drop According to Freshest Data
Posted on: May 06, 2013 07:40:46 AM
In February, the Yuba City, CA market saw a drop year-over-year in new home closings, sliding after a growth in January 2013. New home closings moved from six a year earlier to two after the figure moved from two in January 2012 to five in January 2013.
A total of 100 new homes were sold during the 12 months that ended in February, down from 104 for the year that ended in January.
New home closings accounted for two of the 209 total closings, a smaller percentage compared with six of 268 closings a year earlier. For new and existing homes, closings declined in February after also declining in January year-over-year.
Pricing and Mortgage Trends
The average new home price was $230,500, up from $164,767 a year earlier. This was on the heels of a 57.6% hike in January year-over-year.
Average mortgage size on new homes rose from $171,539 to $222,994. Average mortgage size on new homes went from $128,570 in January 2012 to $183,701 in January 2013.