Freshest Numbers Indicate New Home Closings and Prices Fall in Sumter
Posted on: Nov 12, 2013 07:47:11 AM
The Sumter, SC market saw a drop in new home closings year-over-year in August, dropping after a year-over-year increase in July 2013. New home closings moved from 17 a year earlier to 13 after the figure moved from 19 in July 2012 to 21 in July 2013.
A total of 195 new homes were sold during the 12 months that ended in August, down from 199 for the year that ended in July.
13 of the 116 total closings were new home closings, a shift on a percentage basis from 17 out of 155 a year earlier. Following a year-over-year rise in July, closings of new and existing homes fell year-over-year in August.
Pricing and Mortgage Trends
The average new home price was $171,419, down from $189,076 a year earlier. This came after a 7.8% drop in July from a year earlier.
There was a decline in average mortgage size on new homes, going from $183,932 last year to $171,386 in August 2013. In July 2013, average mortgage size on newly sold homes saw a 2.1% boost year-over-year from a year earlier.