New Home Sales and Prices Fall in Dubuque According to Recent Data
Posted on: Jul 06, 2014 07:10:17 AM
In the Dubuque, IA market in April, new home closings fell year-over-year, and the decline was by a larger percentage than the March 2014. New home closings moved from 11 a year earlier to 5 after the figure moved from 9 in March 2013 to 5 in March 2014.
A total of 123 new homes were sold during the 12 months that ended in April, down from 129 for the year that ended in March.
On a percentage basis, new home closings as a part of total closings decreased to 3.6% from 9.0% a year earlier. Following a drop in March year-over-year, closings of new and existing homes jumped year-over-year in April.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $268,025, down from last year's $288,930. This came after a 7.3% decline in March from a year earlier.
The average mortgage size went down to $152,840 from $206,350 a year earlier. Average mortgage size on new homes went from $186,993 in March 2013 to $170,085 in March 2014.