Freshest Numbers For Columbia Show New Home Closings and Prices Rise
Posted on: Jul 06, 2014 07:08:07 AM
In the Columbia, MO market, new home closings increased year-over-year in April, swinging upward off a fall in March 2014. New home closings saw a 4.3% rise from a year earlier to 24. In comparison, new home closings in the same month last year saw a 33.3% drop year-over-year in March.
A total of 302 new homes were sold during the 12 months that ended in April, up from 301 for the year that ended in March.
Of 240 total closings, 24 were of new homes. This marks a rise from 7.4% of total closings a year earlier. Following a year-over-year decline in March, closings of new and existing homes also fell year-over-year in April.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes jumped year-over-year to $294,310 in April, up 38.3% from last year. This rise is smaller than the 51.9% bump in March year-over-year.
For newly sold homes, the average mortgage size saw a hike year-over-year along with new home prices. In April 2014, the average mortgage size on newly sold homes saw a 39.0% boost from a year earlier. Average mortgage size increased 44.4% in March 2014 from a year earlier.