Newest Figures Show New Home Sales and Prices Fall in Winchester
Posted on: Dec 06, 2013 07:50:42 AM
New home closings in the Winchester, VA market dropped year-over-year in September, but the decline was less than the year-over-year decline in August. New home closings moved from 25 a year earlier to 18 after the figure moved from 28 in August 2012 to 14 in August 2013.
A total of 196 new homes were sold during the 12 months that ended in September, down from 203 for the year that ended in August.
Of the total number of closings, new home closings made up 13.6%. A year earlier, new home closings represented 14.6% of total closings. Closings of new and existing homes declined year-over-year in September after also falling in August year-over-year.
Pricing and Mortgage Trends
The average price of new homes dropped by 3.3% year-over-year to $264,803 per unit in September. This decline compares to a more than twofold surge in August year-over-year.
The average mortgage size on newly sold homes saw a drop year-over-year in contrast to new home prices. Average mortgage size declined 13.7% to $221,112 in September from a year earlier. Average mortgage size on new homes went from $224,171 in August 2012 to $246,103 in August 2013.