Spartanburg, SC - Local Housing Data - Summary

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Spartanburg, SC Local News

  • Spartanburg, SC - May 2014 - New Home Closings Remain Steady

    New home sales remained level from a year ago in May. Average prices of new homes dropped 31.8%. Real Estate Owned (REO) closings as a percentage of existing home closings dropped, falling 6.1% percentage points. Foreclosures as a percentage of existing home closings rose, climbing 11.1% percentage...

  • Meritage Enters Atlanta, Completing a Two-Year Quest

    After two years of searching, Meritage enters Atlanta with its Legendary Communities purchase. BUILDER's Les Shaver talks with Meritage ceo Steve Hilton about the deal, the opportunity, and where Meritage is looking next on its mission to grow into recovery's widening sphere of markets.

  • Spartanburg, SC - April 2014 - Figures for New Home Closings Suggest Market Drop is Mounting

    New home sales fell in Spartanburg, SC in April. Real Estate Owned (REO) closings as a percentage of existing home closings dropped, falling 9.2% percentage points. Foreclosures as a percentage of existing home closings rose, climbing 1.3% percentage points. Average prices of new homes moved up,...

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.

 
 
 

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