Newest Figures Show New Home Prices Climb, Sales Drop in Charleston
Posted on: Apr 06, 2014 07:07:08 AM
New home closings fell year-over-year in January in the Charleston, SC market, swinging downward off a year-over-year bump in December 2013. Closings went from 184 in January 2013 to 183 in January 2014. This came after new home closings rose 32.2% in December from the year earlier.
A total of 2,859 new homes were sold during the 12 months that ended in January, down from 2,860 for the year that ended in December.
As a percentage of overall housing closings, new home closings made up 20.8%. This is a decline 22.3% of closings a year earlier. For new and existing homes, closings jumped year-over-year in January after also increasing in December year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes increased year-over-year to $260,817 in January, up 11.4% from last year. This boost is smaller than the 15.7% rise in December year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. It jumped 3.0% in January from a year earlier to $222,841. In December 2013, average mortgage size on newly sold homes saw a 18.5% rise year-over-year from a year earlier.