Gainesville, GA - Local Housing Data - Summary

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Gainesville, GA Local News

Recent Figures Show New Home Sales and Prices Climb in Gainesville

Posted on: Apr 06, 2014 07:15:31 AM

In January, closings of new homes in the Gainesville, GA market rose year-over-year, and the market showed signs of strengthening as the percentage rise turned out sharper than December 2013. New home closings saw a climb of more than twofold from the year earlier to 31. This followed a 96.6% climb year-over-year in December.

A total of 439 new homes were sold during the 12 months that ended in January, up from 423 for the year that ended in December.

Of 195 total closings, 31 were of new homes. This is a rise from 5.4% of closings a year earlier. Following a year-over-year increase in December, closings of new and existing homes dropped year-over-year in January.

Pricing and Mortgage Trends

In January, the average price of newly sold homes increased year-over-year to $298,258 per unit, a 10.7% surge. This rise is an improvement over the 8.5% gain in December year-over-year.

The average mortgage size on newly sold homes moved south year-over-year in contrast to new home prices. It fell 1.0% in January from a year earlier, reaching $214,268. Average mortgage size increased 3.4% in December 2013 from a year earlier.

 
 
 

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