New Home Sales and Prices Both Gain in Winchester According to Latest Data
Posted on: Mar 06, 2014 07:46:23 AM
There was an increase in new home closings in the Winchester, VA market in December year-over-year, but the percentage lift was not as steep as November 2013, giving signals of market evening out. New home closings saw a boost of 32.0% from the year earlier to 33. This was after the housing market saw a 41.2% jump year-over-year in November.
A total of 207 new homes were sold during the 12 months that ended in December, up from 199 for the year that ended in November.
Out of all housing closings, new home closings made up 21.4%. This is a lift from 16.9% of closings a year earlier. Following a year-over-year increase in November, closings of new and existing homes also grew year-over-year in December.
Pricing and Mortgage Trends
Average price of newly sold homes had a 7.3% bump year-over-year to $294,593 per unit in December. This gain is an improvement over the 3.6% boost in November year-over-year.
The average mortgage size on newly sold homes sank year-over-year in contrast to the average price of new homes. In December 2013, there was a 2.6% drop in the average mortgage size on new homes to $248,223. Average mortgage size fell 4.5% in November 2013 from a year earlier.