Recent Numbers Show Prices of New Homes Gain in Roanoke, Sales Decline
Posted on: Apr 06, 2014 07:35:52 AM
In the Roanoke, VA market in December, closings of new homes declined year-over-year, falling after a rise in November 2013. New home closings moved from 6 a year earlier to 4 after the figure moved from 6 in November 2012 to 10 in November 2013.
A total of 120 new homes were sold during the 12 months that ended in December, down from 122 for the year that ended in November.
New home closings were 2.4% of total closings a year earlier, and this percentage saw a drop as new home closings this year made up 4 of the 302 total closings. Following a year-over-year increase in November, closings of new and existing homes also gained year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes was $268,963, an increase from $256,067 a year earlier. This came after a 2.6% decline in November from a year earlier.
The average mortgage size went down to $190,173 from $221,949 a year earlier. Average mortgage size on new homes went from $208,836 in November 2012 to $167,982 in November 2013.