Recent Numbers Show New Home Closings Rise in Asheville, Prices Decrease
Posted on: Dec 06, 2013 07:02:49 AM
New home closings grew year-over-year in August in the Asheville, NC market, but the market seemed to be signaling at leveling out with a percentage lift less pronounced than July 2013. New home closings saw a 11.5% jump from a year earlier to 29. This was after the housing market saw a 42.1% rise year-over-year in July.
A total of 308 new homes were sold during the 12 months that ended in August, up from 305 for the year that ended in July.
As a percentage of overall housing closings, new home closings made up 4.1% of overall housing closings. A year earlier, new home closings accounted for 4.2% of total closings. Closings of new and existing homes grew year-over-year in August after also rising in July year-over-year.
Pricing and Mortgage Trends
In August, the average price for new home closings was $226,241, a 12.6% drop from last year. This decline compares to a 2.0% boost in July year-over-year.
For newly sold homes, the average mortgage size saw a decline year-over-year in contrast to new home prices. It dropped 1.2% in August from a year earlier, reaching $207,330. Average mortgage size sank 3.3% in July 2013 from a year earlier.