New Home Prices Gain in Lawrence According to Recent Figures, Sales Decrease
Posted on: May 06, 2013 07:20:25 AM
Closings of new homes in the Lawrence, KS market declined year-over-year in January, dropping after staying level in December. Closings stood at two in January after being three a year earlier and remaining unchanged at five in December from a year earlier.
A total of 75 new homes were sold during the 12 months that ended in January, down from 76 for the year that ended in December.
New home closings were two out of 48 total closings, making up 4.2%. This is up on a percentage basis from three of 111 a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.
Pricing and Mortgage Trends
The average new home value went from $172,050 last year to $328,511,. This came after a 7.7% rise in December year-over-year.
From the year-ago figure of $137,640, the average mortgage size on new homes moved up to $262,809. Average mortgage size on new homes went from $167,846 in December 2011 to $180,700 in December 2012. For new home closings, the percentage of the sale price that was being financed was relatively unchanged from January 2012 to January 2013 at 80.0%. This comes after the figure remained relatively unchanged at 80.0% in December 2012.