Newest Numbers For Fayetteville AR Show New Home Closings and Prices Rise
Posted on: Nov 12, 2013 07:15:11 AM
The Fayetteville, AR market saw an increase in closings of new homes in August year-over-year, but the percentage lift was less than July 2013, suggesting the market may be leveling. New home closings saw a boost of 37.9% from the year earlier to 131. This came after a 61.5% boost year-over-year in July.
A total of 1,125 new homes were sold during the 12 months that ended in August, up from 1,089 for the year that ended in July.
Of 1,115 total closings, 131 were of new homes. This is better than the 10.6% of closings a year earlier. Closings of new and existing homes climbed year-over-year in August after also rising in July year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $235,543 per unit in August, up 2.4%from a year earlier. This bump is smaller than the 5.0% lift in July year-over-year.
For newly sold homes, the average mortgage size saw a drop year-over-year in contrast to new home prices. The average mortgage size sank to $207,397 in August, marking a 3.1% fall compared with last year. Average mortgage size gained 12.5% in July 2013 from a year earlier.