Latest Numbers For Wilmington Show New Home Closings and Prices Climb
Posted on: Dec 06, 2013 07:50:32 AM
In the Wilmington, NC market in September, new home closings increased year-over-year, but the percentage hike was less pronounced than August 2013, indicating the market may be evening out. Closings rose 12.2% from a year earlier to 138. This came after a 23.2% hike year-over-year in August.
A total of 1,382 new homes were sold during the 12 months that ended in September, up from 1,367 for the year that ended in August.
Of the total number of closings, new home closings made up 16.6%. They made up 16.8% of closings a year earlier. Closings of new and existing homes increased year-over-year in September after also rising in August year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes gained year-over-year to $228,137 in September, up 10.6% from last year. This bump compares to a 3.6% drop in August from a year earlier.
The average mortgage size on newly sold homes climbed year-over-year along with the average price of new homes. Average mortgage size gained 13.0% to $211,955 in September from a year earlier. In August 2013, average mortgage size climbed 10.2% from a year earlier.