Latest Figures Show New Home Prices Gain, Sales Decline in Harrisonburg
Posted on: Aug 08, 2014 11:25:40 AM
The Harrisonburg, VA market saw a drop in new home closings year-over-year in April, but the decline was less than the year-over-year decline in March. New home closings moved from 8 a year earlier to 2 after the figure moved from 3 in March 2013 to none in March 2014.
New home closings were 5.2% of total closings a year earlier, and this percentage saw a drop as new home closings this year made up 2 of the 113 total closings. Following a year-over-year decline in March, closings of new and existing homes also fell year-over-year in April.
Pricing and Mortgage Trends
The average new home value went from $165,228 last year to $175,675. This came after a.
The average mortgage size moved to $114,640, down from last year's $139,650.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in April 2014.