Prices of New Homes Increase in Athens, Sales Drop According to Recent Data
Posted on: May 06, 2013 07:02:06 AM
New home closings in the Athens, GA market slid year-over-year in February, dropping after a year-over-year increase in January 2013. New home closings moved from 14 a year earlier to five after the figure moved from two in January 2012 to three in January 2013.
A total of 93 new homes were sold during the 12 months that ended in February, down from 102 for the year that ended in January.
New home closings were five of the 154 total closings, down on a percentage basis from 14 of 207 a year earlier. Closings of new and existing homes dropped year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $272,260, an increase from $215,711 a year earlier. This came after a more than twofold surge in January year-over-year.
From the year-ago figure of $176,322, the average mortgage size on new homes moved up to $190,807. Average mortgage size on new homes went from $228,061 in January 2012 to $300,775 in January 2013.