New Home Sales Increase in Asheville, Prices Decrease According to Freshest Data
Posted on: May 06, 2013 07:01:58 AM
In the Asheville, NC market, closings of new homes increased year-over-year in January, rebounding from a year-over-year decline in December 2012. New home closings moved from five a year earlier to 16 after the figure moved from 39 in December 2011 to 23 in December 2012.
A total of 281 new homes were sold during the 12 months that ended in January, up from 270 for the year that ended in December.
New home closings were 16 out of 438 total closings, making up 3.7%. This is up on a percentage basis from five of 383 a year earlier. For new and existing homes, closings jumped year-over-year in January after also increasing in December year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2013 was $238,906, down from last year's $261,500. This came after a 8.3% decline in December from a year earlier.
Average mortgage size on new homes fell from $195,095 to $150,316. In December 2012, average mortgage size on newly sold homes saw a 5.9% rise year-over-year from a year earlier. The overall percentage of sale price that was being financed slid 11.7 percentage points year-over-year to 62.9% in January 2013. This came after an 11.8 percentage point lift in December from a year earlier.