New Home Closings and Prices in College Station Rise According to Latest Figures
Posted on: Jul 06, 2014 07:07:49 AM
In the College Station, TX market in April, closings of new homes gained year-over-year, but there were signals the market may be evening out with a percentage lift shallower than March 2014. Closings increased 31.8% from a year earlier to 58. This followed a 59.3% climb year-over-year in March.
A total of 524 new homes were sold during the 12 months that ended in April, up from 510 for the year that ended in March.
Of 465 total closings, 58 were of new homes. This is better than the 10.8% of closings a year earlier. Closings of new and existing homes gained year-over-year in April after also rising in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $245,198 per unit in April, up 6.0%from a year earlier. This lift compares to a 4.7% decline in March from a year earlier.
The average mortgage size on newly sold homes rose year-over-year along with the average price of new homes. In April 2014, there was a 5.6% lift in the average mortgage size, reaching $207,741. Average mortgage size dropped 10.1% in March 2014 from a year earlier.