Newest Numbers Show Prices of New Homes Increase in Charlottesville, Sales Decline
Posted on: Dec 06, 2013 07:08:53 AM
The Charlottesville, VA market saw a drop in new home closings year-over-year in August, and the decline was by a larger percentage than the July 2013. New home closings moved from 37 a year earlier to 13 after the figure moved from 30 in July 2012 to 20 in July 2013.
A total of 222 new homes were sold during the 12 months that ended in August, down from 246 for the year that ended in July.
Last year, 37 of 288 total closings were new homes, and this percentage saw a decline as new home closings this year made up 13 of the 174 total closings. Closings of new and existing homes declined year-over-year in August after also falling in July year-over-year.
Pricing and Mortgage Trends
The average new home price was $353,251, up from $294,250 a year earlier. This came after a 53.2% hike in July year-over-year.
The average mortgage size moved to $287,599, down from last year's $328,891. In July 2013, average mortgage size grew 33.6% from a year earlier.