New Home Closings and Prices in Davenport Rise According to Recent Figures
Posted on: Aug 08, 2014 11:17:23 AM
New home closings in the Davenport, IA market climbed year-over-year in April, but the increase was less than March 2014. New home closings moved from 11 a year earlier to 12 after the figure moved from 4 in March 2013 to 8 in March 2014.
A total of 175 new homes were sold during the 12 months that ended in April, up from 174 for the year that ended in March.
New home closings were 12 out of the 523 total closings, same on a percentage basis as a year earlier. Following a fall in March year-over-year, closings of new and existing homes gained year-over-year in April.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $452,667 from $257,955 a year ago. This came after a 7.9% lift in March year-over-year.
Average mortgage size on new homes increased to $348,239 from $221,598 last year. Average mortgage size on new homes went from $253,181 in March 2013 to $365,376 in March 2014.