New Home Closings Rise in Florence According to Recent Data
Posted on: May 06, 2013 07:12:22 AM
New home closings in the Florence, SC market jumped year-over-year in February, and the increase was greater than January 2013. New home closings moved from seven a year earlier to 14 after the figure moved from seven in January 2012 to eight in January 2013.
A total of 107 new homes were sold during the 12 months that ended in February, up from 100 for the year that ended in January.
New home closings were 14 of the 150 total closings, up on a percentage basis from seven of 167 a year earlier. Following a year-over-year rise in January, closings of new and existing homes dropped year-over-year in February.
Pricing and Mortgage Trends
The average new home price was $185,997, a move from $187,051 a year earlier. This was on the heels of a 18.1% rise in January year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $194,383 to $185,857. Average mortgage size on new homes went from $179,749 in January 2012 to $173,637 in January 2013.