Freshest Figures Show New Home Sales Climb in Burlington, Prices Fall
Posted on: Aug 08, 2014 11:12:00 AM
In May, closings of new homes in the Burlington, NC market increased year-over-year, but the increase was less than April 2014. New home closings moved from 13 a year earlier to 16 after the figure moved from 14 in April 2013 to 20 in April 2014.
A total of 253 new homes were sold during the 12 months that ended in May, up from 250 for the year that ended in April.
New home closings were 16 out of the 203 total closings, a move on a percentage basis from 13 of 183 a year earlier. Following a fall in April year-over-year, closings of new and existing homes rose year-over-year in May.
Pricing and Mortgage Trends
The average new home price was $175,688, down from $177,808 a year earlier. This was on the heels of a 2.3% surge in April year-over-year.
Average mortgage size on new homes rose from $160,129 to $171,916. Average mortgage size went from $170,254 in April 2013 to $168,822 in April 2014.