Newest Numbers Show Prices of New Homes Rise in Lawrence, Sales Decrease
Posted on: Nov 12, 2013 07:25:44 AM
In July, there was a drop year-over-year in new home closings in the Lawrence, KS market, a decline following a rise in June 2013. New home closings moved from 13 a year earlier to 3 after the figure moved from 9 in June 2012 to 10 in June 2013.
A total of 74 new homes were sold during the 12 months that ended in July, down from 84 for the year that ended in June.
New home closings were 6.4% of total closings a year earlier, and this percentage saw a fall as new home closings this year made up 3 of the 117 total closings. Closings of new and existing homes fell year-over-year in July after also falling in June year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $455,060 from $247,471 a year ago. This was on the heels of a 8.8% hike in June year-over-year.
Average mortgage size on new homes increased to $408,729 from $206,742 last year. Average mortgage size on new homes went from $236,431 in June 2012 to $254,473 in June 2013.