New Home Closings and Prices in Greenville Increase According to Latest Figures
Posted on: Feb 12, 2014 07:09:23 AM
In November, closings of new homes in the Greenville, SC market climbed year-over-year, picking up from a fall in October 2013. New home closings saw a jump of 49.5% from the year earlier to 136. This followed a 11.3% decline year-over-year in October.
A total of 1,380 new homes were sold during the 12 months that ended in November, up from 1,335 for the year that ended in October.
As a percentage of overall housing closings, new home closings made up 17.4%. This is a lift from 14.3% of closings a year earlier. Following a year-over-year increase in October, closings of new and existing homes also increased year-over-year in November.
Pricing and Mortgage Trends
In November, the average value of new homes saw a 11.3% lift year-over-year as it grew to $260,611 per unit. This hike is an improvement over the 8.4% rise in October year-over-year.
The average mortgage size on newly sold homes saw a boost year-over-year along with new home prices. In November 2013, the average mortgage size on newly sold homes saw a 11.6% bump from a year earlier. Average mortgage size increased 7.4% in October 2013 from a year earlier.