Newest Figures Show New Home Sales and Prices Climb in Lawrence
Posted on: Aug 08, 2014 11:32:04 AM
In April, there was an increase in closings of new homes in the Lawrence, KS market year-over-year, rebounding from a year-over-year decline in March 2014. New home closings moved from 5 a year earlier to 8 after the figure moved from 10 in March 2013 to 4 in March 2014.
New home closings were 8 out of the 207 total closings, a move on a percentage basis from 5 of 162 a year earlier. Closings of new and existing homes grew year-over-year in April following a fall in March year-over-year.
Pricing and Mortgage Trends
The average new home price was $351,929, up from $323,473 a year earlier. This followed a 25.2% decline in March from a year earlier.
Average mortgage size on new homes went from $275,145 a year earlier to $281,543. Average mortgage size on new homes went from $253,707 in March 2013 to $188,717 in March 2014.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in April 2014.