Freshest Figures Show New Home Sales Climb in Greenville, Prices Decrease
Posted on: Feb 12, 2014 07:09:33 AM
There was an increase in closings of new homes in the Greenville, NC market in November year-over-year, but the increased on a percentage basis less sharlpy than October 2013, showing signs of market stabilization. There was a 37.5% jump in new home closings from a year earlier. In comparison, new home closings in the same month last year saw a 68.8% hike year-over-year in October.
A total of 281 new homes were sold during the 12 months that ended in November, up from 275 for the year that ended in October.
Of 175 total closings, 22 were of new homes. This is an increase on a percentage basis, as new home closings were 8.3% of total closings a year ago. Closings of new and existing homes sank year-over-year in November after also falling in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes dropped 13.3% year-over-year in November to $177,714 per unit. This drop compares to a 14.2% hike in October year-over-year.
In November 2013, average mortgage size on new homes went from $175,855 in November 2012 to $175,060 in November 2013. In October 2013, average mortgage size on newly sold homes saw a 12.6% surge year-over-year from a year earlier.