Freshest Figures Show New Home Sales and Prices Climb in Columbia
Posted on: May 06, 2013 07:08:01 AM
There was an increase in closings of new homes in the Columbia, MO market in February year-over-year, and the increase was greater than January 2013. New home closings moved from 14 a year earlier to 21 after the figure moved from 13 in January 2012 to 19 in January 2013.
A total of 267 new homes were sold during the 12 months that ended in February, up from 260 for the year that ended in January.
New home closings were 21 out of 174 total closings, making up 12.1%. This is up on a percentage basis from 14 of 162 a year earlier. Closings of new and existing homes rose year-over-year in February after also rising in January year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $358,177 from $200,779 a year ago. This came after a 38.4% rise in January year-over-year.
Average mortgage size on new homes increased to $301,433 from $172,313 last year. Average mortgage size on new homes went from $158,329 in January 2012 to $208,009 in January 2013. Of the overall sale price, the percentage that was being financed declined 1.7 percentage points year-over-year to 84.2% in February 2013.