New Home Prices Increase in Holland According to Freshest Figures, Sales Drop
Posted on: Mar 06, 2014 07:18:28 AM
The Holland, MI market saw a drop in new home closings year-over-year in December, and the decline was by a larger percentage than the November 2013. New home closings moved from 20 a year earlier to 13 after the figure moved from 44 in November 2012 to 30 in November 2013.
A total of 235 new homes were sold during the 12 months that ended in December, down from 242 for the year that ended in November.
Last year, 20 of 288 total closings were new homes, and this percentage saw a decline as new home closings this year made up 13 of the 316 total closings. Following a drop in November year-over-year, closings of new and existing homes gained year-over-year in December.
Pricing and Mortgage Trends
The average new home price was $203,143, up from $147,971 a year earlier. This came after a 6.0% decline in November from a year earlier.
The average mortgage size on new homes was $188,965, up from $142,699. Average mortgage size increased 6.0% in November 2013 from a year earlier.