New Home Sales Gain in Columbus, Prices Decline According to Newest Data
Posted on: May 06, 2013 07:08:18 AM
The Columbus, GA market saw a rise in new home closings in January year-over-year, snapping back from a drop in December 2012. New home closings saw an 87.5% hike from a year earlier to 30. In comparison, new home closings in the same month last year saw a 27.0% fall year-over-year in December.
A total of 352 new homes were sold during the 12 months that ended in January, up from 338 for the year that ended in December.
As a percentage of overall housing closings, new home closings accounted for 16.9%. This is up from the 8.8% of closings a year earlier. Following a year-over-year rise in December, closings of new and existing homes declined year-over-year in January.
Pricing and Mortgage Trends
The average per-unit value of new homes dipped to $240,733 in January, a decline of 5.5% year-over-year from a year earlier. This is a downward shift from a 20.5% rise in December year-over-year.
The average mortgage size on newly sold homes fell year-over-year in contrast to the average price of new homes. It declined 4.8% in January from a year earlier, reaching $232,997. In December 2012, average mortgage size gained 18.6% from a year earlier. The overall percentage of sale price that was being financed went from 96.0% of average price to 96.8% from a year earlier. In December 2012, the figure saw a 1.5 percentage point decline from the year earlier.