Newest Figures Show New Home Sales Level from Last Year, Prices Fall in Salisbury
Posted on: Aug 08, 2014 11:46:56 AM
New home closings in the Salisbury, MD market stayed the same year-over-year in April, staying relatively stable after having decreased year-over-year in March. Closings remained level at 5 from a year earlier after the figure moved from 7 in March 2013 to 3 in March 2014.
A total of 49 new homes were sold during the 12 months that ended in April, equal to the number of new homes sold for the year that ended in March.
New home closings were 5 out of the 132 total closings, a move on a percentage basis from 5 of 117 a year earlier. Closings of new and existing homes gained year-over-year in April after also rising in March year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $184,250, down from last year's $206,500. This came after a 24.0% drop in March from a year earlier.
Average mortgage size on new homes rose from $168,722 to $184,833. Average mortgage size on new homes went from $179,651 in March 2013 to $149,821 in March 2014.