Recent Figures Show New Home Sales and Prices Increase in Savannah
Posted on: Dec 06, 2013 07:43:23 AM
In September, closings of new homes in the Savannah, GA market rose year-over-year, showing growth after remaining stable in August from the year earlier. New home closings saw a 18.8% climb from a year earlier to 76. Closings remained the same in August from the year earlier.
A total of 815 new homes were sold during the 12 months that ended in September, up from 803 for the year that ended in August.
New home closings represented 15.4% of overall housing closings. This is a surge from 12.6% of closings a year earlier. For new and existing homes, closings fell in September after also declining in August year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price climbed 7.9% year-over-year in September to $218,233 per unit. This lift is an improvement over the 6.5% hike in August year-over-year.
The average mortgage size on newly sold homes saw a drop year-over-year in contrast to new home prices. It slid 2.7% in September from a year earlier, reaching $206,635. Average mortgage size sank 13.3% in August 2013 from a year earlier.