Newest Figures Show New Home Sales Level from Last Year, Prices Drop in Athens
Posted on: Apr 06, 2014 07:02:29 AM
Closings of new homes in the Athens, GA market remained steady year-over-year in January, staying flat after advancing year-over-year in December from the year earlier. Closings remained level at 9 from a year earlier after the figure moved from 11 in December 2012 to 16 in December 2013.
A total of 192 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
New home closings were 9 out of the 154 total closings, a move on a percentage basis from 9 of 158 a year earlier. Following a year-over-year decline in December, closings of new and existing homes also fell year-over-year in January.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $297,756, down from last year's $315,176. This was on the heels of a move from $298,555 per unit to $295,788 from December 2012 to December 2013.
Average mortgage size on newly sold homes saw a decline year-over-year from $254,860 to $237,600. Average mortgage size on new homes went from $250,637 in December 2012 to $266,210 in December 2013.