Kalamazoo, MI - Local Housing Data - Summary

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Kalamazoo, Portage, MI

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Kalamazoo, MI Local News

Recent Figures Show New Home Sales and Prices Rise in Kalamazoo

Posted on: Apr 06, 2014 07:20:43 AM

New home closings grew year-over-year in January in the Kalamazoo, MI market, rebounding from a year-over-year decline in December 2013. New home closings moved from 5 a year earlier to 7 after the figure moved from 15 in December 2012 to 11 in December 2013.

A total of 146 new homes were sold during the 12 months that ended in January, up from 144 for the year that ended in December.

New home closings were 7 out of the 324 total closings, a move on a percentage basis from 5 of 386 a year earlier. After rising year-over-year in December, closings of new and existing homes declined year-over-year in January.

Pricing and Mortgage Trends

The average new home price was $271,250, up from $118,538 a year earlier. This came after a 1.8% drop in December from a year earlier.

Average mortgage size on new homes rose from $121,619 to $234,328. Average mortgage size on new homes went from $197,641 in December 2012 to $176,036 in December 2013.

 
 
 

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