New Home Prices Rise in Fort Smith AR According to Recent Figures, Sales Drop
Posted on: Apr 06, 2014 07:14:45 AM
In the Fort Smith, AR market, closings of new homes sank year-over-year in January, a decline following a rise in December 2013. New home closings moved from 13 a year earlier to 9 after the figure moved from 11 in December 2012 to 13 in December 2013.
A total of 139 new homes were sold during the 12 months that ended in January, down from 143 for the year that ended in December.
Last year, 13 of 258 total closings were new homes, and this percentage saw a decline as new home closings this year made up 9 of the 250 total closings. After rising year-over-year in December, closings of new and existing homes fell year-over-year in January.
Pricing and Mortgage Trends
The average price of new homes was $200,167, an increase from $194,021 a year earlier. This followed a 36.5% boost in December year-over-year.
The average mortgage size on new homes was $185,890, up from $159,390. Average mortgage size on new homes went from $139,071 in December 2012 to $205,547 in December 2013.