New Home Sales Gain in Gainesville, Prices Decrease According to Freshest Data
Posted on: Nov 12, 2013 07:16:52 AM
There was a rise in closings of new homes in the Gainesville, GA market in August year-over-year, and there were signs that the market may be improving as the percentage hike was better than July 2013. There was a more than twofold boost in new home closings from a year earlier. This came on the heels of a 90.0% rise year-over-year in July.
A total of 333 new homes were sold during the 12 months that ended in August, up from 307 for the year that ended in July.
Of 325 total closings, 43 were of new homes. This marks a rise from 5.8% of total closings a year earlier. Closings of new and existing homes grew year-over-year in August after also rising in July year-over-year.
Pricing and Mortgage Trends
In August, there was a 2.8% fall year-over-year in the average per-unit price of newly sold homes, settling at $288,647. This decline compares to a 17.6% gain in July year-over-year.
Average mortgage size on new homes saw a fall year-over-year in contrast to prices of new homes. Average mortgage size fell by 14.5% from a year earlier, settling at $196,762 in August. Average mortgage size gained 8.4% in July 2013 from a year earlier.