New Home Sales Remain Level in Dover, Prices Fall According to Recent Data
Posted on: May 06, 2013 07:09:55 AM
Closings of new homes in the Dover, DE market remained unchanged year-over-year in January, staying consistent after having increased in December from the year earlier. There was no difference in new home closings from a year ago as the figure stayed level at 32, compared with a 26.0% rise in December year-over-year.
A total of 594 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
New home closings accounted for 21.9% of overall housing closings. This is a boost from 13.1% of closings a year earlier. For new and existing homes, closings sank in January after also declining in December year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 7.6% decline year-over-year in January to $226,765 per unit. This decline is a swing down from a 4.1% 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. Average mortgage size slid 10.3% to $205,811 in January from a year earlier. Average mortgage size rose 9.5% in December 2012 from a year earlier. The overall percentage of sale price that was being financed slipped 2.8 percentage points year-over-year to 90.8% in January 2013. This was a swing downward after a 4.7 percentage point rise in December from a year earlier.