New Home Closings and Prices in Winston-Salem Gain According to Freshest Figures
Posted on: Feb 12, 2014 07:24:10 AM
The Winston-Salem, NC market saw an increase in closings of new homes in November year-over-year, but signs of market leveling were showing as the percentage gain was less than October 2013. Closings climbed 27.7% from a year earlier to 60. This was after the housing market saw a 71.1% boost year-over-year in October.
A total of 569 new homes were sold during the 12 months that ended in November, up from 556 for the year that ended in October.
Out of all housing closings, new home closings represented 11.0%. This marks a rise from 9.5% of total closings a year earlier. Following a year-over-year increase in October, closings of new and existing homes also jumped year-over-year in November.
Pricing and Mortgage Trends
For newly sold homes, the average price climbed 13.7% year-over-year in November to $202,562 per unit. This gain is higher than the 4.8% surge in October year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. The average mortgage size rose to $164,517 in November, marking a 11.0% boost compared with a year earlier. Average mortgage size grew 11.4% in October 2013 from a year earlier.