New Home Closings and Prices in Springfield Gain According to Freshest Figures
Posted on: Dec 06, 2013 07:45:29 AM
In September, closings of new homes rose year-over-year in the Springfield, MO market, and the market showed signs of strengthening as the percentage boost turned out sharper than August 2013. There was a 44.4% boost in new home closings from a year earlier. This came on the heels of a 9.7% climb year-over-year in August.
A total of 341 new homes were sold during the 12 months that ended in September, up from 333 for the year that ended in August.
New home closings made up 3.0% of overall housing closings. A year ago, 2.1% of total closings were new home closings. For new and existing homes, closings climbed year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes climbed year-over-year to $215,201 in September, up 17.9% from last year. This bump compares to a 4.4% fall in August from a year earlier.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. Average mortgage size climbed 22.1% to $183,957 in September from a year earlier. Average mortgage size dropped 6.1% in August 2013 from a year earlier.