Prices of New Homes Increase in Hinesville, Sales Fall According to Recent Data
Posted on: Aug 08, 2014 11:26:09 AM
Closings of new homes in the Hinesville, GA market sank year-over-year in May, falling after remaining level in April from the year earlier. Closings stood at 5 in May after being 7 a year earlier and remaining unchanged at 8 in April from a year earlier.
A total of 109 new homes were sold during the 12 months that ended in May, down from 111 for the year that ended in April.
New home closings were 5 out of the 125 total closings, down on a percentage basis from 7 of 100 a year earlier. After dropping in April from a year earlier, closings of new and existing homes jumped year-over-year in May.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $198,940 from $166,519 a year ago. This came after a 6.1% fall in April from a year earlier.
Average mortgage size on new homes went from $165,437 a year earlier to $204,618. Average mortgage size on new homes went from $193,769 in April 2013 to $183,523 in April 2014.