Latest Figures Show New Home Prices Climb, Sales Decline in Charlotte
Posted on: Apr 06, 2014 07:07:18 AM
In the Charlotte, NC market, new home closings declined year-over-year in January, shifting downward off a rise in December 2013. New home closings saw a 1.0% decline from a year earlier to 382. In comparison, new home closings in the same month last year saw a 15.7% hike year-over-year in December.
A total of 6,335 new homes were sold during the 12 months that ended in January, down from 6,339 for the year that ended in December.
Of 2,420 total closings, 382 were of new homes. This marks a rise from 14.1% of total closings a year earlier. Following a year-over-year increase in December, closings of new and existing homes dropped year-over-year in January.
Pricing and Mortgage Trends
In January, there was a 18.4% gain year-over-year in the average price of newly sold homes, reaching $272,351 per unit. This hike is an improvement over the 7.8% surge in December year-over-year.
For newly sold homes, the average mortgage size saw a bump year-over-year along with new home prices. It increased 12.5% in January from a year earlier to $232,118. Average mortgage size grew 9.2% in December 2013 from a year earlier.