Prices of New Homes Increase in Burlington, Sales Decrease According to Latest Data
Posted on: Nov 12, 2013 07:06:39 AM
In the Burlington, NC market in August, new home closings sank year-over-year, but the decline was less than the year-over-year decline in July. New home closings moved from 25 a year earlier to 22 after the figure moved from 15 in July 2012 to 13 in July 2013.
A total of 181 new homes were sold during the 12 months that ended in August, down from 184 for the year that ended in July.
New home closings represented 11.3% of overall housing closings. This is down from the a year earlier when new home closings represented 13.0% of total closings. Closings of new and existing homes rose year-over-year in August after also rising in July year-over-year.
Pricing and Mortgage Trends
The average price of newly sold homes climbed year-over-year 8.0% in August to $192,691 per unit. This hike is higher than the 2.7% lift in July year-over-year.
In August 2013, average mortgage size on newly sold homes moved from $165,463 to $165,211 from August 2012. Average mortgage size on new homes went from $173,042 in July 2012 to $170,184 in July 2013.