Latest Figures Show New Home Prices Increase, Sales Decrease in Joplin
Posted on: Aug 08, 2014 11:28:50 AM
In April, there was a drop year-over-year in new home closings in the Joplin, MO market, falling after remaining level in March from the year earlier. Closings stood at 6 in April after being 17 a year earlier and remaining unchanged at 12 in March from a year earlier.
A total of 108 new homes were sold during the 12 months that ended in April, down from 119 for the year that ended in March.
On a percentage basis, new home closings as a part of total closings decreased to 1.6% from 5.9% a year earlier. For new and existing homes, closings increased year-over-year in April after also increasing in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $159,474, an increase from $124,939 a year earlier. This followed a 8.4% fall in March from a year earlier.
The average mortgage size on new homes was $151,036, up from $109,762. Average mortgage size on new homes went from $127,833 in March 2013 to $119,912 in March 2014.