Latest Numbers Show Prices of New Homes Rise in College Station, Sales Decline
Posted on: Sep 11, 2014 07:06:44 AM
In the College Station, TX market in June, new home closings dropped year-over-year, swinging downward off a year-over-year bump in May 2014. New home closings saw a 7.4% fall from a year earlier to 25. This came on the heels of a 20.8% jump year-over-year in May.
A total of 223 new homes were sold during the 12 months that ended in June, down from 225 for the year that ended in May.
As a percentage of overall housing closings, new home closings made up 5.3%. This is a surge from 3.7% of closings a year earlier. Following a year-over-year increase in May, closings of new and existing homes declined year-over-year in June.
Pricing and Mortgage Trends
In June, the average price of newly sold homes climbed 14.6% year-over-year to $250,173 per unit. This hike is better than the 13.8% gain in May year-over-year.
The average mortgage size on newly sold homes saw a bump year-over-year along with new home prices. The average mortgage size saw a 12.0% surge year-over-year to $212,874 in June. Average mortgage size gained 13.0% in May 2014 from a year earlier.