New Home Sales and Prices Both Increase in Gainesville According to Newest Data
Posted on: Feb 12, 2014 07:08:08 AM
The Gainesville, GA market saw a rise in new home closings in November year-over-year, but with a rise less sharp than October 2013, there were suggestions the market may be evening out. Closings climbed 80.8% from a year earlier to 47. In comparison, new home closings in the same month last year saw a 81.8% jump year-over-year in October.
A total of 388 new homes were sold during the 12 months that ended in November, up from 367 for the year that ended in October.
Out of all housing closings, new home closings accounted for 18.7%. This marks a rise from 10.8% of total closings a year earlier. Closings of new and existing homes rose year-over-year in November after also rising in October year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 3.1% lift year-over-year in November to $282,423 per unit. This rise compares to a 2.0% decline in October from a year earlier.
For newly sold homes, average mortgage size moved from $195,343 in November 2012 to $196,781 in November 2013. Average mortgage size increased 4.8% in October 2013 from a year earlier.