Recent Figures Show New Home Sales and Prices Increase in Kankakee
Posted on: Dec 06, 2013 07:23:41 AM
The Kankakee, IL market saw a rise in new home closings in August year-over-year, and the increase was greater than July 2013. New home closings moved from 1 a year earlier to 8 after the figure moved from 1 in July 2012 to 2 in July 2013.
A total of 42 new homes were sold during the 12 months that ended in August, up from 35 for the year that ended in July.
New home closings were 8 out of 151 total closings, making up 5.3%. This is up on a percentage basis from 1 of 187 a year earlier. After rising year-over-year in July, closings of new and existing homes declined year-over-year in August.
Pricing and Mortgage Trends
The average price of new homes rose to $173,875 from last year's $156,000. This came after a 64.3% surge in July year-over-year.
Average mortgage size on new homes went from $148,200 a year earlier to $166,213. Average mortgage size on new homes went from $117,799 in July 2012 to $163,756 in July 2013.