New Home Sales Remain Level in Harrisonburg, Prices Drop According to Recent Data
Posted on: May 06, 2013 07:15:22 AM
New home closings in the Harrisonburg, VA market remained steady year-over-year in January, staying level after a year-over-year increase in December from a year earlier. Closings remained level at two from a year earlier after the figure moved from none in December 2011 to two in December 2012.
A total of 45 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
New home closings were 5.7% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up two of the 88 total closings. Following a year-over-year increase in December, closings of new and existing homes also climbed year-over-year in January.
Pricing and Mortgage Trends
The average new home price was $243,950, down from $293,500 a year earlier. This was on the heels of a set of periods with no new home closings in both December 2012 or December 2011
Average mortgage size on new homes fell from $212,000 to $175,000.