New Home Sales and Prices Both Gain in Charlottesville According to Freshest Data
Posted on: Jul 06, 2014 07:06:30 AM
In the Charlottesville, VA market in March, closings of new homes grew year-over-year, but the increase was less than February 2014. New home closings moved from 13 a year earlier to 15 after the figure moved from 10 in February 2013 to 20 in February 2014.
A total of 261 new homes were sold during the 12 months that ended in March, up from 259 for the year that ended in February.
New home closings were 15 of the 203 total closings, up on a percentage basis from 13 of 221 a year earlier. Closings of new and existing homes fell year-over-year in March after also falling in February year-over-year.
Pricing and Mortgage Trends
The average new home price was $425,783, up from $273,427 a year earlier. This followed a 12.1% hike in February year-over-year.
Average mortgage size on new homes went from $257,482 a year earlier to $349,658. Average mortgage size on new homes went from $299,300 in February 2013 to $295,770 in February 2014.