Freshest Figures Show New Home Sales Gain in Davenport, Prices Decrease
Posted on: Mar 06, 2014 07:10:38 AM
Closings of new homes in the Davenport, IA market rose year-over-year in November, and the increase was greater than October 2013. New home closings moved from 13 a year earlier to 17 after the figure moved from 24 in October 2012 to 30 in October 2013.
A total of 231 new homes were sold during the 12 months that ended in November, up from 227 for the year that ended in October.
New home closings were 17 out of the 478 total closings, a move on a percentage basis from 13 of 463 a year earlier. Following a year-over-year increase in October, closings of new and existing homes also rose year-over-year in November.
Pricing and Mortgage Trends
The average new home price was $333,447, down from $377,292 a year earlier. This was on the heels of a 6.6% surge in October year-over-year.
Average mortgage size on new homes increased to $281,633 from $272,589 last year. Average mortgage size rose 5.8% in October 2013 from a year earlier.