Prices of New Homes Climb in Athens, Sales Decline According to Recent Data
Posted on: Jul 06, 2014 07:01:59 AM
In April, the Athens, GA market saw a fall 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 fell in April after also declining in March year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price gained 31.3% year-over-year in April to $314,581 per unit. This lift compares to a 2.5% decline in March from a year earlier.
Average mortgage size on new homes grew year-over-year along with new home prices. In April 2014, average mortgage size climbed 29.4% from a year earlier to $276,599. Average mortgage size on new homes went from $283,224 in March 2013 to $234,838 in March 2014.