New Home Closings and Prices in Holland Increase According to Freshest Figures
Posted on: May 06, 2013 07:15:55 AM
There was an increase in closings of new homes in the Holland, MI market in February year-over-year, rebounding from a year-over-year decline in January 2013. New home closings moved from six a year earlier to 18 after the figure moved from 12 in January 2012 to 11 in January 2013.
A total of 242 new homes were sold during the 12 months that ended in February, up from 230 for the year that ended in January.
New home closings were 18 of the 288 total closings, up on a percentage basis from six of 282 a year earlier. For new and existing homes, closings rose year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $203,336, an increase from $170,650 a year earlier. This came after a 6.1% rise in January year-over-year.
Average mortgage size on new homes rose from $128,467 to $196,200. Average mortgage size on new homes went from $174,794 in January 2012 to $136,814 in January 2013.