Recent Numbers Show New Home Closings Gain in Lawrence, Prices Drop
Posted on: Feb 11, 2014 07:21:03 AM
Closings of new homes in the Lawrence, KS market gained year-over-year in October, rebounding from a year-over-year decline in September 2013. New home closings moved from 5 a year earlier to 9 after the figure moved from 6 in September 2012 to 4 in September 2013.
A total of 94 new homes were sold during the 12 months that ended in October, up from 90 for the year that ended in September.
9 of the 153 total closings were new home closings, a shift on a percentage basis from 5 out of 96 a year earlier. For new and existing homes, closings jumped year-over-year in October after also increasing in September year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $274,885, compared with $386,004 last year. This was on the heels of a 13.9% gain in September year-over-year.
The average mortgage size went down to $234,046 from $329,911 a year earlier. Average mortgage size on new homes went from $183,183 in September 2012 to $208,575 in September 2013.