Prices of New Homes Gain in St. Joseph, Sales Steady According to Recent Figures
Posted on: Jul 06, 2014 07:35:59 AM
Closings of new homes in the St. Joseph, MO market saw no change year-over-year in April, staying level after a year-over-year increase in March from a year earlier. Closings remained level at 4 from a year earlier after the figure moved from none in March 2013 to 2 in March 2014. New home closings moved from 4 a year earlier to 4 after the figure moved from none in March 2013 to 2 in March 2014.
4 of the 144 total closings were new home closings, a shift on a percentage basis from 4 out of 134 a year earlier. After dropping in March from a year earlier, closings of new and existing homes jumped year-over-year in April.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $250,692 from $148,088 a year ago. This came after a set of periods with no new home closings in both March 2014 or March 2013.
The average mortgage size on new homes was $224,510, up from $136,840.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in April 2014.