Newest Figures Show New Home Sales and Prices Decline in Dover
Posted on: Jul 06, 2014 07:10:07 AM
New home closings fell year-over-year in March in the Dover, DE market, and the market seemed to be worsening in light of the percentage fall steeper than February 2014. New home closings saw a decline of 30.4% from the year earlier to 32. This was after the housing market saw a 10.3% drop year-over-year in February.
A total of 564 new homes were sold during the 12 months that ended in March, down from 578 for the year that ended in February.
New home closings accounted for 21.8% of overall housing closings. This is down from the 28.7% of closings a year earlier. Following a year-over-year increase in February, closings of new and existing homes fell year-over-year in March.
Pricing and Mortgage Trends
In March, the average price of newly sold homes slid year-over-year to $252,876 per unit, marking a 4.5% drop from the year-earlier figure. This fall compares to a 1.9% rise in February year-over-year.
Average mortgage size on new homes jumped year-over-year in contrast to new home prices. It gained to $238,894 in March, a 1.4% hike. In February 2014, average mortgage size fell 3.4% from a year earlier.