Baton Rouge New Home Sales Rise According to Freshest Numbers
Posted on: Nov 12, 2013 07:03:55 AM
There was an increase in closings of new homes in the Baton Rouge, LA market in July year-over-year, on an upswing after a fall in June 2013. New home closings saw a climb of 6.7% from the year earlier to 80. This followed a 22.3% drop year-over-year in June.
A total of 996 new homes were sold during the 12 months that ended in July, up from 991 for the year that ended in June.
New home closings made up 9.2% of overall housing closings. They represented 9.8% of closings a year earlier. Closings of new and existing homes rose year-over-year in July following a drop in June year-over-year.
Pricing and Mortgage Trends
The average value for new homes sold in July 2013 was $225,035, a move from $224,517 a year earlier. This was on the heels of a 18.2% rise in June year-over-year.
There was a surge year-over-year in the average mortgage size on new homes along with new home prices. In July 2013, average mortgage size grew 6.7% from a year earlier to $209,456. In June 2013, average mortgage size on newly sold homes saw a 13.5% bump year-over-year from a year earlier.