Recent Figures Show New Home Prices Rise, Sales Drop in Sherman
Posted on: Jul 06, 2014 07:34:18 AM
Closings of new homes in the Sherman, TX market sank year-over-year in April, dropping after a year-over-year increase in March 2014. New home closings moved from 6 a year earlier to 2 after the figure moved from 2 in March 2013 to 9 in March 2014.
A total of 69 new homes were sold during the 12 months that ended in April, down from 73 for the year that ended in March.
New home closings were 2 out of the 232 total closings, down on a percentage basis from 6 of 241 a year earlier. For new and existing homes, closings slid in April after also declining in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $260,820 from last year's $238,967. This came after a shift from no closings in March 2013 to an average price of $163,465 in March 2014.
The average mortgage size on new homes was $222,974, up from $204,408.