Prices of New Homes Gain in Valdosta, Sales Decrease According to Latest Data
Posted on: May 06, 2013 07:37:50 AM
In the Valdosta, GA market, new home closings dropped year-over-year in February, but the decline was less than the year-over-year decline in January. New home closings moved from 12 a year earlier to 10 after the figure moved from 10 in January 2012 to six in January 2013.
A total of 181 new homes were sold during the 12 months that ended in February, down from 183 for the year that ended in January.
Ten of the 122 total closings were new home closings, a shift on a percentage basis from 12 out of 143 a year earlier. Following a year-over-year decline in January, closings of new and existing homes also fell year-over-year in February.
Pricing and Mortgage Trends
The average new home price was $185,086, up from $159,240 a year earlier. This was on the heels of a 1.0% rise in January year-over-year.
Average mortgage size on new homes went from $157,093 a year earlier to $171,775. Average mortgage size on new homes went from $161,414 in January 2012 to $170,433 in January 2013.