New Home Prices Increase in Spartanburg According to Recent Figures, Sales Decrease
Posted on: Sep 11, 2014 07:33:12 AM
Closings of new homes in the Spartanburg, SC market fell year-over-year in June, and the decline was by a larger percentage than the May 2014. New home closings moved from 7 a year earlier to 5 after the figure moved from 4 in May 2013 to 3 in May 2014.
A total of 38 new homes were sold during the 12 months that ended in June, down from 40 for the year that ended in May.
New home closings were 5 out of the 333 total closings, a move on a percentage basis from 7 of 402 a year earlier. Following a year-over-year decline in May, closings of new and existing homes also declined year-over-year in June.
Pricing and Mortgage Trends
The average new home value went from $153,448 last year to $218,204. This came after a 31.7% decline in May from a year earlier.
Average mortgage size on new homes went from $141,906 a year earlier to $197,040. Average mortgage size on new homes went from $222,245 in May 2013 to $161,765 in May 2014.