New Home Sales and Prices Both Rise in Athens According to Newest Data
Posted on: Dec 06, 2013 07:03:00 AM
In September, closings of new homes jumped year-over-year in the Athens, GA market, and the increase was greater than August 2013. New home closings moved from 5 a year earlier to 14 after the figure moved from 8 in August 2012 to 18 in August 2013.
A total of 136 new homes were sold during the 12 months that ended in September, up from 127 for the year that ended in August.
New home closings were 14 out of 183 total closings, making up 7.7%. This is up on a percentage basis from 5 of 197 a year earlier. Following a year-over-year increase in August, closings of new and existing homes sank year-over-year in September.
Pricing and Mortgage Trends
The average new home value went from $169,040 last year to $267,679. This came after a 17.7% gain in August year-over-year.
From the year-ago figure of $135,995, the average mortgage size on new homes moved up to $239,711. Average mortgage size on new homes went from $215,146 in August 2012 to $259,808 in August 2013.