New Home Prices Climb in Fayetteville According to Freshest Figures, Sales Drop
Posted on: Aug 08, 2014 11:21:03 AM
In May, the Fayetteville, NC market saw a decline year-over-year in new home closings, but the decline was less than the year-over-year decline in April. New home closings moved from 62 a year earlier to 13 after the figure moved from 60 in April 2013 to 10 in April 2014.
A total of 242 new homes were sold during the 12 months that ended in May, down from 291 for the year that ended in April.
Last year, 62 of 464 total closings were new homes, and this percentage saw a decline as new home closings this year made up 13 of the 411 total closings. Following a year-over-year decline in April, closings of new and existing homes also fell year-over-year in May.
Pricing and Mortgage Trends
The average price of new homes rose to $214,923 from last year's $207,185. This came after a 12.2% lift in April year-over-year.
Average mortgage size on new homes rose from $197,307 to $221,082. Average mortgage size on new homes went from $223,169 in April 2013 to $251,348 in April 2014.