Latest Figures Show New Home Prices Rise, Sales Fall in Dover
Posted on: Apr 06, 2014 07:11:38 AM
In the Dover, DE market in December, new home closings dropped year-over-year, and there were suggestions the market may be weakening with a percentage fall steeper than November 2013. Closings declined 12.1% from a year earlier to 58. This came on the heels of a 6.8% decline year-over-year in November.
A total of 576 new homes were sold during the 12 months that ended in December, down from 584 for the year that ended in November.
As a percentage of overall housing closings, new home closings represented 34.5%. This is a fall 42.9% of closings a year earlier. For new and existing homes, closings grew year-over-year in December after also increasing in November year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 5.2% hike year-over-year in December to $254,077 per unit. This rise is better than the 4.9% lift in November year-over-year.
For newly sold homes, the average mortgage size sank year-over-year in contrast to average price of new homes. It sank to $217,563 in December, a 7.1% fall. In November 2013, average mortgage size jumped 4.9% from a year earlier.