New Home Sales and Prices Both Gain in Asheville According to Newest Data
Posted on: Feb 11, 2014 07:01:56 AM
Closings of new homes gained year-over-year in October in the Asheville, NC market, and the percentage lift was an improvement from September 2013, suggesting the market may be gaining momentum. New home closings saw a hike of 47.8% from the year earlier to 34. This was after the housing market saw a 16.1% boost year-over-year in September.
A total of 335 new homes were sold during the 12 months that ended in October, up from 324 for the year that ended in September.
Of 688 total closings, 34 were of new homes. This is better than the 3.2% of closings a year earlier. Following a year-over-year rise in September, closings of new and existing homes dropped year-over-year in October.
Pricing and Mortgage Trends
The average price of new homes rose year-over-year 6.9% in October to $245,368 per unit. This surge is smaller than the 24.2% rise in September year-over-year.
For newly sold homes, the average mortgage size saw a decline year-over-year in contrast to new home prices. The average mortgage size sank to $194,284 in October, marking a 3.5% fall compared with last year. In September 2013, average mortgage size on newly sold homes saw a 3.9% lift year-over-year from a year earlier.