New Home Sales Increase in Holland, Prices Stay Level According to Latest Data
Posted on: Apr 06, 2014 07:18:11 AM
There was a rise in new home closings in the Holland, MI market in January year-over-year, rebounding from a year-over-year decline in December 2013. New home closings moved from 11 a year earlier to 16 after the figure moved from 20 in December 2012 to 14 in December 2013.
A total of 241 new homes were sold during the 12 months that ended in January, up from 236 for the year that ended in December.
New home closings were 16 of the 264 total closings, up on a percentage basis from 11 of 261 a year earlier. Closings of new and existing homes jumped year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
The average new home price was $183,427 in January 2014, same as a year earlier. This came after a 35.1% hike in December year-over-year.
Average mortgage size on new homes increased to $206,697 from $136,814 last year. Average mortgage size on new homes went from $142,699 in December 2012 to $185,885 in December 2013.