New Home Sales and Prices Fall in Winchester According to Latest Data
Posted on: Jul 06, 2014 07:39:54 AM
In the Winchester, VA market in April, new home closings slid year-over-year, declining after staying relatively stable in March from the year earlier. Closings stood at 5 in April after being 17 a year earlier and remaining unchanged at 14 in March from a year earlier.
A total of 207 new homes were sold during the 12 months that ended in April, down from 219 for the year that ended in March.
New home closings were 9.1% of total closings a year earlier, and this percentage saw a fall as new home closings this year made up 5 of the 151 total closings. Closings of new and existing homes sank year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average new home price was $247,926, down from $308,210 a year earlier. This came after a 5.9% drop in March from a year earlier.
Average mortgage size on newly sold homes saw a decline year-over-year from $268,673 to $222,749. Average mortgage size on new homes went from $222,783 in March 2013 to $249,062 in March 2014.