Florence, SC - Local Housing Data - Summary

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Florence, SC Local News

Newest Numbers Show New Home Prices Climb in Florence, Sales Steady

Posted on: Aug 08, 2014 11:21:43 AM

The Florence, SC market saw no change in new home closings year-over-year in May, staying relatively stable after having decreased year-over-year in April. Closings remained level at 2 from a year earlier after the figure moved from 6 in April 2013 to 3 in April 2014.

New home closings were 2 out of the 183 total closings, a move on a percentage basis from 2 of 163 a year earlier. After dropping in April from a year earlier, closings of new and existing homes rose year-over-year in May.

Pricing and Mortgage Trends

The average price for newly sold homes moved north to $255,187 from $191,250 a year ago. This was on the heels of a 36.0% fall in April from a year earlier.

Average mortgage size on new homes went from $157,994 a year earlier to $248,955. Average mortgage size on new homes went from $201,184 in April 2013 to $164,072 in April 2014.

Other Market Trends

There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.


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