Freshest Figures Show New Home Sales and Prices Rise in Hinesville
Posted on: Jul 06, 2014 07:15:38 AM
In the Hinesville, GA market in April, closings of new homes jumped year-over-year, swinging upward year-over-year after little movement in March. Closings moved to 26, marking a 36.8% climb from a year earlier. Closings were level in March from the year earlier.
A total of 280 new homes were sold during the 12 months that ended in April, up from 273 for the year that ended in March.
Of 119 total closings, 26 were of new homes. This is an increase on a percentage basis, as new home closings were 17.1% of total closings a year ago. Following a year-over-year increase in March, closings of new and existing homes also grew year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes was $188,896 per unit in April, up 3.3%from a year earlier. This hike compares to a 1.5% drop in March from a year earlier.
There was a gain year-over-year in the average mortgage size on new homes along with new home prices. The average mortgage size saw a 2.5% lift year-over-year to $190,103 in April. Average mortgage size declined 3.3% in March 2014 from a year earlier.