New Home Sales Increase in Burlington, Prices Decrease According to Freshest Data
Posted on: Jul 06, 2014 07:05:09 AM
In the Burlington, NC market in April, new home closings gained year-over-year, but the increase was less than March 2014. New home closings moved from 17 a year earlier to 20 after the figure moved from 14 in March 2013 to 20 in March 2014.
A total of 271 new homes were sold during the 12 months that ended in April, up from 268 for the year that ended in March.
New home closings represented 11.4% of overall housing closings. This is better than the 8.7% of closings a year earlier. For new and existing homes, closings fell in April after also declining in March year-over-year.
Pricing and Mortgage Trends
In April, the average price for new home closings was $188,730, a 2.5% decline from last year. This drop compares to a 17.6% rise in March year-over-year.
The average mortgage size on newly sold homes dropped year-over-year in contrast to the average price of new homes. It slid to $169,204 in April, a 2.5% fall. Average mortgage size on new homes went from $162,230 in March 2013 to $183,388 in March 2014.