Recent Figures Show New Home Sales and Prices Fall in Columbia
Posted on: Aug 08, 2014 11:15:55 AM
In the Columbia, SC market in April, new home closings sank year-over-year, but the decline was less than the year-over-year decline in March. New home closings moved from 23 a year earlier to 2 after the figure moved from 31 in March 2013 to 1 in March 2014.
A total of 117 new homes were sold during the 12 months that ended in April, down from 138 for the year that ended in March.
New home closings were 2.8% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 2 of the 316 total closings. Closings of new and existing homes declined year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $178,500, down from last year's $186,434. This was on the heels of a 62.3% lift in March year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $183,782 to $163,200. Average mortgage size on new homes went from $174,160 in March 2013 to $258,217 in March 2014.