New Home Prices Gain in Greenville According to Latest Figures, Sales Drop
Posted on: Aug 08, 2014 11:25:00 AM
In the Greenville, NC market, new home closings slid year-over-year in May, and the market seemed to be weakening with a percentage fall steeper than in April 2014. There was a 52.8% fall in new home closings from a year earlier. This came on the heels of a 13.8% drop year-over-year in April.
A total of 254 new homes were sold during the 12 months that ended in May, down from 273 for the year that ended in April.
Out of all housing closings, new home closings represented 5.0%. This is down from the 15.1% of closings a year earlier. Following a fall in April year-over-year, closings of new and existing homes climbed year-over-year in May.
Pricing and Mortgage Trends
In May, the average value of new homes saw a 13.7% lift year-over-year as it grew to $206,976 per unit. This gain compares to a 8.8% drop in April from a year earlier.
The average mortgage size on new homes moved north year-over-year along with new home prices. It grew 13.6% in May from a year earlier to $196,782. In April 2014, average mortgage size on newly sold homes saw a 6.1% rise year-over-year from a year earlier.