Latest Figures Show New Home Sales Level from Last Year, Prices Decrease in Lynchburg
Posted on: Dec 06, 2013 07:28:12 AM
New home closings in the Lynchburg, VA market remained steady year-over-year in August, staying flat after dropping year-over-year in July from the year earlier. Closings remained level at 1 from a year earlier after the figure moved from 3 in July 2012 to none in July 2013.
New home closings were 1 of the 36 total closings, up on a percentage basis from 1 of 120 a year earlier. For new and existing homes, closings declined in August after also declining in July year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in August 2013 was $118,500, down from last year's $138,000. This came after a.
The average mortgage size moved to $65,444, down from last year's $139,800.
Other Market Trends
There was no change in the composition of the new-home market with regard to the types of properties sold in August 2013.