Latest Numbers For Charleston Show New Home Closings and Prices Increase
Posted on: Dec 06, 2013 07:08:23 AM
There was an increase in closings of new homes in the Charleston, SC market in September year-over-year, but there were hints the market may be leveling out with a percentage lift shallower than August 2013. Closings gained 12.0% from a year earlier to 270. In comparison, new home closings in the same month last year saw a 17.7% jump year-over-year in August.
A total of 2,661 new homes were sold during the 12 months that ended in September, up from 2,632 for the year that ended in August.
Of the total number of closings, new home closings made up 21.0%. They made up 20.5% of closings a year earlier. Following a year-over-year increase in August, closings of new and existing homes also increased year-over-year in September.
Pricing and Mortgage Trends
Average price of newly sold homes had a 12.4% hike year-over-year to $260,541 per unit in September. This boost is higher than the 11.2% lift in August year-over-year.
For newly sold homes, the average mortgage size saw a gain year-over-year along with new home prices. In September 2013, the average mortgage size on newly sold homes saw a 12.2% boost from a year earlier. In August 2013, average mortgage size on newly sold homes saw a 4.5% lift year-over-year from a year earlier.