New Home Sales and Prices Both Increase in Winston-Salem According to Latest Data
Posted on: Apr 06, 2014 07:46:26 AM
Closings of new homes in the Winston-Salem, NC market gained year-over-year in January, and the percentage hike was higher than December 2013, implying the market may be improving. Closings gained more than twofold from a year earlier to 46. This came on the heels of a 21.7% climb year-over-year in December.
A total of 607 new homes were sold during the 12 months that ended in January, up from 583 for the year that ended in December.
Of 508 total closings, 46 were of new homes. This is an increase on a percentage basis, as new home closings were 4.5% of total closings a year ago. Closings of new and existing homes increased year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
In January, there was a 18.6% rise year-over-year in the average price of newly sold homes, reaching $180,185 per unit. This bump is an improvement over the 13.3% lift in December year-over-year.
The average mortgage size on newly sold homes saw a surge year-over-year along with new home prices. It rose to $149,915 in January, a 3.4% hike. In December 2013, average mortgage size on newly sold homes saw a 3.4% lift year-over-year from a year earlier.