New Home Prices Rise in Athens According to Recent Figures, Sales Fall
Posted on: Aug 08, 2014 11:07:50 AM
In April, the Athens, GA market saw a decline year-over-year in new home closings, a decline following a rise in March 2014. New home closings moved from 18 a year earlier to 16 after the figure moved from 8 in March 2013 to 10 in March 2014.
A total of 197 new homes were sold during the 12 months that ended in April, down from 199 for the year that ended in March.
As a percentage of overall housing closings, new home closings represented 6.2%. This is better than the 5.1% of closings a year earlier. For new and existing homes, closings sank in April after also declining in March year-over-year.
Pricing and Mortgage Trends
In April, the average value of new homes saw a 31.3% gain year-over-year as it grew to $314,581 per unit. This surge compares to a 2.5% fall in March from a year earlier.
Average mortgage size on new homes rose year-over-year along with new home prices. The average mortgage size saw a 29.4% hike year-over-year to $276,599 in April. Average mortgage size on new homes went from $283,224 in March 2013 to $234,838 in March 2014.