Newest Numbers For Columbia Show New Home Closings and Prices Climb
Posted on: Nov 12, 2013 07:10:14 AM
There was an increase in new home closings in the Columbia, MO market in August year-over-year, but with an increase less steep than that of July 2013, the market seemed to be showing signs of leveling out. New home closings saw a 7.7% hike from a year earlier to 28. In comparison, new home closings in the same month last year saw a 37.9% rise year-over-year in July.
A total of 283 new homes were sold during the 12 months that ended in August, up from 281 for the year that ended in July.
Out of all housing closings, new home closings accounted for 9.6%. This marks a rise from 8.0% of total closings a year earlier. Following a year-over-year rise in July, closings of new and existing homes sank year-over-year in August.
Pricing and Mortgage Trends
The average price of new homes gained year-over-year in August to $244,304 per unit, a rise of 8.6%. This gain is better than the 6.7% hike in July year-over-year.
The average mortgage size on newly sold homes climbed year-over-year along with the average price of new homes. It increased 9.7% in August from a year earlier to $207,155. Average mortgage size climbed 4.0% in July 2013 from a year earlier.