Freshest Numbers For Wichita Show New Home Closings and Prices Climb
Posted on: Apr 06, 2014 07:45:56 AM
In December, there was an increase in closings of new homes in the Wichita, KS market year-over-year, and the percentage lift was greater than November 2013, giving hints of improving market conditions. New home closings saw a rise of 34.3% from the year earlier to 47. This was after the housing market saw a 23.1% boost year-over-year in November.
A total of 523 new homes were sold during the 12 months that ended in December, up from 511 for the year that ended in November.
Of 893 total closings, 47 were of new homes. This is a surge from 4.1% of closings a year earlier. Following a drop in November year-over-year, closings of new and existing homes increased year-over-year in December.
Pricing and Mortgage Trends
The average price of newly sold homes rose year-over-year 2.2% in December to $214,717 per unit. This hike is smaller than the 10.8% boost in November year-over-year.
The average mortgage size on newly sold homes rose year-over-year along with the average price of new homes. It grew to $183,956 in December, a 1.7% lift. In November 2013, average mortgage size on newly sold homes saw a 13.2% hike year-over-year from a year earlier.