New Home Closings and Prices in Sumter Decrease According to Recent Figures
Posted on: Aug 08, 2014 11:52:43 AM
In the Sumter, SC market in May, closings of new homes declined year-over-year, but the decline was less than the year-over-year decline in April. New home closings moved from 20 a year earlier to 8 after the figure moved from 19 in April 2013 to 7 in April 2014.
A total of 139 new homes were sold during the 12 months that ended in May, down from 151 for the year that ended in April.
Last year, 20 of 143 total closings were new homes, and this percentage saw a decline as new home closings this year made up 8 of the 139 total closings. After rising year-over-year in April, closings of new and existing homes fell year-over-year in May.
Pricing and Mortgage Trends
The average per-unit price of new homes was $166,625, compared with $208,012 last year. This was on the heels of a 17.5% decline in April from a year earlier.
The average mortgage size moved to $167,403, down from last year's $201,437. Average mortgage size on new homes went from $197,850 in April 2013 to $161,933 in April 2014.