Freshest Figures Show New Home Sales Climb in Gainesville, Prices Drop
Posted on: May 06, 2013 07:13:20 AM
In February, closings of new homes gained year-over-year in the Gainesville, GA market, and the increase was greater than January 2013. New home closings moved from four a year earlier to 25 after the figure moved from five in January 2012 to 15 in January 2013.
A total of 253 new homes were sold during the 12 months that ended in February, up from 232 for the year that ended in January.
New home closings were 25 of the 206 total closings, up on a percentage basis from four of 263 a year earlier. After rising year-over-year in January, closings of new and existing homes sank year-over-year in February.
Pricing and Mortgage Trends
The average new home price was $261,896, down from $273,075 a year earlier. This came after a 25.7% fall in January from a year earlier.
Average mortgage size on new homes moved from $222,038 to $223,023. Average mortgage size on new homes went from $230,484 in January 2012 to $223,957 in January 2013. Of the overall sale price, the percentage that was being financed rose 3.8 percentage points year-over-year to 85.2% in February 2013. This was another hike after January 2013 when there was a 19.2 percentage point lift from a year earlier.