Brunswick, GA - Recent New home Sales Remain Steady
Posted on: May 06, 2012 09:17:30 AM
Sales of new homes in the Brunswick, GA market remained unchanged year-over-year in February, staying relatively stable after having decreased year-over-year in January. Sales remained level at one from a year earlier after the figure moved from eight in January 2011 to one in January 2012.
A total of 110 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
One of the 122 total sales were new home sales, a shift on a percentage basis from one out of 163 a year earlier. After rising year-over-year in January, sales of new and existing homes fell year-over-year in February.
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The average price of new homes was $481,500, an increase from $340,000 a year earlier. This was on the heels of a more than threefold boost in January year-over-year.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in February 2012. Attached units have continued to account for all of new home sales.
Brunswick, GA - Recent New home Sales Remain Steady
Posted on: May 06, 2012 09:17:30 AM
Sales of new homes in the Brunswick, GA market remained unchanged year-over-year in February, staying relatively stable after having decreased year-over-year in January. Sales remained level at one from a year earlier after the figure moved from eight in January 2011 to one in January 2012.
A total of 110 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
One of the 122 total sales were new home sales, a shift on a percentage basis from one out of 163 a year earlier. After rising year-over-year in January, sales of new and existing homes fell year-over-year in February.
The average price of new homes was $481,500, an increase from $340,000 a year earlier. This was on the heels of a more than threefold boost in January year-over-year.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in February 2012. Attached units have continued to account for all of new home sales.
Foreclosures and real estate owned (REO) sales declined in February from a year earlier, but remained a drag on the market. Together, foreclosures plus REO sales accounted for 53.7% of existing home sales, down from 74.1% a year earlier. The percentage of existing home sales involving foreclosures slipped to 27.3% in February from 35.8% a year earlier while REO sales as a percentage of existing home sales dropped to 26.4% from 38.3% a year earlier.
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Source: Housing Intelligence