New Home Closings and Prices in Sherman Gain According to Newest Figures
Posted on: Aug 08, 2014 11:49:47 AM
The Sherman, TX market saw a rise in new home closings in May year-over-year, rebounding from a year-over-year decline in April 2014. New home closings moved from 4 a year earlier to 9 after the figure moved from 6 in April 2013 to 1 in April 2014.
A total of 61 new homes were sold during the 12 months that ended in May, up from 56 for the year that ended in April.
New home closings were 9 out of 284 total closings, making up 3.2%. This is up on a percentage basis from 4 of 240 a year earlier. For new and existing homes, closings gained year-over-year in May after also increasing in April year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $229,068 from last year's $87,856. This was on the heels of a 37.0% fall in April from a year earlier.
The average mortgage size on new homes was $204,095, up from $81,125. Average mortgage size on new homes went from $204,408 in April 2013 to $149,148 in April 2014.