Prices of New Homes Climb in Sumter, Sales Drop According to Recent Data
Posted on: Apr 06, 2014 07:42:23 AM
In January, the Sumter, SC market saw a drop year-over-year in new home closings, declining after staying relatively stable in December from the year earlier. Closings stood at 8 in January after being 19 a year earlier and remaining unchanged at 12 in December from a year earlier.
A total of 198 new homes were sold during the 12 months that ended in January, down from 209 for the year that ended in December.
New home closings represented 8 out of the 115 total closings, which is a smaller percentage than the 19 of 107 total closings a year earlier. Following a year-over-year increase in December, closings of new and existing homes also increased year-over-year in January.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $198,088 from $162,599 a year ago. This followed a 5.2% surge in December year-over-year.
From the year-ago figure of $143,236, the average mortgage size on new homes moved up to $195,478. Average mortgage size on new homes went from $169,257 in December 2012 to $177,726 in December 2013.