Burlington, NC - Local Housing Data - Summary

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Burlington, NC Local News

New Home Closings and Prices Decrease in Burlington - September 2014

Posted on: Sep 12, 2014 07:00:37 AM

The Burlington, NC market saw a drop in new home closings year-over-year in June, falling after a rise in May 2014. New home closings moved from 21 a year earlier to 20 after the figure moved from 13 in May 2013 to 17 in May 2014.

A total of 252 new homes were sold during the 12 months that ended in June, down from 253 for the year that ended in May.

Compared to a year earlier, new home closings as a percentage of total closings stayed the same at 10.1%. Following a year-over-year increase in May, closings of new and existing homes slid year-over-year in June.

Pricing and Mortgage Trends

In June, there was a 2.0% decline year-over-year in the average per-unit price of newly sold homes, settling at $197,555. This fall is a drop off from the 2.3% decline in May from a year earlier.

For newly sold homes, the average mortgage size declined year-over-year in contrast to average price of new homes. Average mortgage size slid by 11.7% from a year earlier, settling at $180,403 in June. Average mortgage size on new homes went from $160,129 in May 2013 to $169,782 in May 2014.

 
 
 

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