Prices of New Homes Gain in Holland, Sales Steady According to Freshest Figures
Posted on: Dec 06, 2013 07:21:08 AM
Closings of new homes in the Holland, MI market remained steady year-over-year in September, showing signs of leveling out after falling in August from the year earlier. New home closings stayed level from a year earlier at 17. In the year-earlier month, there was a 22.7% drop in new home closings.
A total of 262 new homes were sold during the 12 months that ended in September, equal to the number of new homes sold for the year that ended in August.
Out of all housing closings, new home closings represented 3.9%. A year earlier, new home closings represented 4.8% of total closings. Following a year-over-year increase in August, closings of new and existing homes also climbed year-over-year in September.
Pricing and Mortgage Trends
The average price of new homes rose year-over-year in September to $212,985 per unit, a rise of 41.7%. This boost is better than the 19.7% gain in August year-over-year.
The average mortgage size on newly sold homes gained year-over-year along with the average price of new homes. In September 2013, the average mortgage size was $156,669, a 5.6% surge from a year earlier. Average mortgage size increased 16.6% in August 2013 from a year earlier.