Check Out the Freshest Figures Show New Home Prices Rise, Sales Drop in Columbia
Posted on: Apr 09, 2014 07:00:20 AM
New home closings in the Columbia, SC market slid year-over-year in December, and there were signs of weakening market conditions with a percentage drop steeper than that of November 2013. New home closings saw a 55.3% decline from a year earlier to 80. This came after a 52.8% decline year-over-year in November.
A total of 1,846 new homes were sold during the 12 months that ended in December, down from 1,945 for the year that ended in November.
Of 364 total closings, 80 were of new homes. This is an increase on a percentage basis, as new home closings were 19.0% of total closings a year ago. For new and existing homes, closings slid in December after also declining in November year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes gained year-over-year to $213,318 in December, up 10.0% from last year. This bump is smaller than the 14.3% hike in November year-over-year.
The average mortgage size on newly sold homes grew year-over-year along with the average price of new homes. It increased to $196,278 in December, a 6.9% rise. In November 2013, average mortgage size on newly sold homes saw a 4.2% surge year-over-year from a year earlier.