New Home Closings and Prices in Greensboro Increase According to Recent Figures
Posted on: Mar 06, 2014 07:16:59 AM
In December, there was an increase in closings of new homes in the Greensboro, NC market year-over-year, and the market showed signals of strengthening as the percentage gain turned out sharper than November 2013. New home closings saw a 96.1% jump from a year earlier to 100. This came after a 9.1% jump year-over-year in November.
A total of 840 new homes were sold during the 12 months that ended in December, up from 791 for the year that ended in November.
New home closings represented 12.1% of overall housing closings. This is a bump from 5.8% of closings a year earlier. Following a year-over-year decline in November, closings of new and existing homes also dropped year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes jumped year-over-year 7.9% in December to $219,756 per unit. This boost follows a move from $193,205 per unit in November 2012 to $192,764 in November 2013.
Average mortgage size on new homes jumped year-over-year along with new home prices. In December 2013, the average mortgage size was $195,357, a 4.1% rise from a year earlier. In November 2013, average mortgage size on newly sold homes saw a 6.5% fall from a year earlier.