Prices of New Homes Climb in Albany, Sales Decrease According to Recent Data
Posted on: Dec 06, 2013 07:00:33 AM
New home closings fell year-over-year in September in the Albany, GA market, sliding after a growth in August 2013. New home closings moved from 6 a year earlier to 1 after the figure moved from 1 in August 2012 to 5 in August 2013.
New home closings were 1 out of the 103 total closings, down on a percentage basis from 6 of 148 a year earlier. Following a year-over-year increase in August, closings of new and existing homes declined year-over-year in September.
Pricing and Mortgage Trends
The average new home price was $164,000, up from $161,883 a year earlier. This followed a 56.2% fall in August from a year earlier.
The average mortgage size on new homes was $161,029, up from $155,932. Average mortgage size on new homes went from $275,087 in August 2012 to $104,025 in August 2013.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in September 2013.