New Home Sales and Prices Both Rise in Greenville According to Newest Data
Posted on: Dec 06, 2013 07:19:33 AM
In September, there was an increase in closings of new homes in the Greenville, SC market year-over-year, snapping back from a fall in August 2013. New home closings saw a hike of 35.6% from the year earlier to 118. In comparison, new home closings in the same month last year saw a 4.3% drop year-over-year in August.
A total of 1,348 new homes were sold during the 12 months that ended in September, up from 1,317 for the year that ended in August.
New home closings represented 13.1% of overall housing closings. This is a bump from 11.8% of closings a year earlier. Closings of new and existing homes rose year-over-year in September after also rising in August year-over-year.
Pricing and Mortgage Trends
The average price of new homes gained year-over-year 5.4% in September to $232,583 per unit. This surge is smaller than the 7.4% bump in August year-over-year.
There was a surge year-over-year in the average mortgage size on new homes along with new home prices. In September 2013, average mortgage size increased 4.1% from a year earlier to $199,722. In August 2013, average mortgage size gained 6.0% from a year earlier.