New Home Closings and Prices in Roanoke Increase According to Freshest Figures
Posted on: Mar 06, 2014 07:36:06 AM
In the Roanoke, VA market in November, closings of new homes jumped year-over-year, and the increase was greater than October 2013. New home closings moved from 5 a year earlier to 10 after the figure moved from 7 in October 2012 to 11 in October 2013.
A total of 116 new homes were sold during the 12 months that ended in November, up from 111 for the year that ended in October.
New home closings were 10 of the 316 total closings, up on a percentage basis from 5 of 271 a year earlier. Closings of new and existing homes rose year-over-year in November after also rising in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $263,367, an increase from $238,390 a year earlier. This was on the heels of a 10.4% drop in October from a year earlier.
There was a decline in average mortgage size on new homes, going from $208,836 last year to $167,982 in November 2013. Average mortgage size on new homes went from $234,550 in October 2012 to $219,899 in October 2013.