New Home Sales and Prices Fall in Lawrence According to Latest Data
Posted on: Jul 06, 2014 07:20:25 AM
In the Lawrence, KS market, new home closings dropped year-over-year in March, falling after remaining level in February from the year earlier. Closings stood at 4 in March after being 11 a year earlier and remaining unchanged at 5 in February from a year earlier.
A total of 84 new homes were sold during the 12 months that ended in March, down from 91 for the year that ended in February.
New home closings were 4 out of the 135 total closings, down on a percentage basis from 11 of 160 a year earlier. Following a year-over-year rise in February, closings of new and existing homes dropped year-over-year in March.
Pricing and Mortgage Trends
The average new home price was $224,926, down from $307,927 a year earlier. This followed a 35.1% decline in February from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $258,419 to $188,717. Average mortgage size on new homes went from $277,629 in February 2013 to $179,308 in February 2014.