Recent Numbers For Fayetteville Show New Home Closings and Prices Increase
Posted on: Dec 06, 2013 07:15:52 AM
Closings of new homes in the Fayetteville, NC market increased year-over-year in September, recovering from a fall in August 2013. There was a 8.4% boost in new home closings from a year earlier. This followed a 18.3% decline year-over-year in August.
A total of 1,092 new homes were sold during the 12 months that ended in September, up from 1,084 for the year that ended in August.
As a percentage of overall housing closings, new home closings accounted for 22.1%. This is down from the 23.2% of closings a year earlier. Following a year-over-year increase in August, closings of new and existing homes also rose year-over-year in September.
Pricing and Mortgage Trends
For newly sold homes, the average price grew 1.4% year-over-year in September to $217,371 per unit. This boost compares to a 4.2% drop in August from a year earlier.
There was a gain year-over-year in the average mortgage size on new homes along with new home prices. In September 2013, the average mortgage size was $217,507, up 1.2% from a year earlier. In August 2013, average mortgage size on newly sold homes saw a 2.6% fall from a year earlier.