New Home Sales and Prices Both Gain in Sherman According to Newest Data
Posted on: Nov 12, 2013 07:44:06 AM
New home closings climbed year-over-year in August in the Sherman, TX market, but the increase was less than July 2013. New home closings moved from 2 a year earlier to 10 after the figure moved from 1 in July 2012 to 7 in July 2013.
A total of 56 new homes were sold during the 12 months that ended in August, up from 48 for the year that ended in July.
New home closings were 10 out of 275 total closings, making up 3.6%. This is up on a percentage basis from 2 of 298 a year earlier. Closings of new and existing homes dropped year-over-year in August after remaning steady in July year-over-year.
Pricing and Mortgage Trends
The average new home value went from $212,125 last year to $229,362. This followed a more than twofold gain in July year-over-year.
From the year-ago figure of $169,700, the average mortgage size on new homes moved up to $186,616. Average mortgage size on new homes went from $55,000 in July 2012 to $121,375 in July 2013.