Freshest Numbers Show New Home Closings Increase in Brunswick, Prices Decline
Posted on: May 06, 2013 07:05:12 AM
There was a rise in closings of new homes in the Brunswick, GA market in February year-over-year, but the increase was less than January 2013. New home closings moved from one a year earlier to two after the figure moved from one in January 2012 to three in January 2013.
A total of 75 new homes were sold during the 12 months that ended in February, up from 74 for the year that ended in January.
New home closings were two out of the 158 total closings, a move on a percentage basis from one of 134 a year earlier. Closings of new and existing homes jumped year-over-year in February after also rising in January year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $227,500, compared with $481,500 last year. This came after a 68.1% drop in January from a year earlier.
The average mortgage size moved to $85,600, down from last year's $331,500. Average mortgage size on new homes went from $388,000 in January 2012 to $141,387 in January 2013. The overall percentage of sale price that was being financed sank 31.2 percentage points year-over-year to 37.6% in February 2013. This was a swing downward after an 11.3 percentage point hike in January from a year earlier.