New Home Sales and Prices Both Rise in Dover According to Newest Data
Posted on: Aug 08, 2014 11:18:34 AM
Closings of new homes in the Dover, DE market rose year-over-year in April, recovering from a fall in March 2014. Closings climbed 17.0% from a year earlier to 55. This followed a 37.8% decline year-over-year in March.
A total of 539 new homes were sold during the 12 months that ended in April, up from 531 for the year that ended in March.
New home closings accounted for 27.0% of overall housing closings. As a part of the whole, new home closings were 27.8% a year earlier. Closings of new and existing homes gained year-over-year in April following a fall in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $246,311 per unit in April, up 1.3%from a year earlier. This surge follows a move from $267,717 per unit in March 2013 to $266,596 in March 2014.
The average mortgage size on newly sold homes climbed year-over-year along with the average price of new homes. In April 2014, the average mortgage size was $223,200, up 4.2% from a year earlier. In March 2014, average mortgage size grew 1.3% from a year earlier.