New Home Sales Increase in Sherman, Prices Drop According to Latest Data
Posted on: Apr 06, 2014 07:39:53 AM
There was a rise in new home closings in the Sherman, TX market in January year-over-year, but the increase was less than December 2013. New home closings moved from 4 a year earlier to 5 after the figure moved from 2 in December 2012 to 5 in December 2013.
A total of 67 new homes were sold during the 12 months that ended in January, up from 66 for the year that ended in December.
5 of the 181 total closings were new home closings, a shift on a percentage basis from 4 out of 193 a year earlier. Following a year-over-year decline in December, closings of new and existing homes also declined year-over-year in January.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2014 was $187,405, down from last year's $209,826. This came after a more than twofold boost in December year-over-year.
Average mortgage size on new homes fell from $167,861 to $165,258. Average mortgage size on new homes went from $100,204 in December 2012 to $212,091 in December 2013.