Recent Numbers For Kankakee Show New Home Closings Gain
Posted on: Mar 06, 2014 07:20:57 AM
There was an increase in closings of new homes in the Kankakee, IL market in November year-over-year, but the increase was less than October 2013. New home closings moved from 2 a year earlier to 6 after the figure moved from 2 in October 2012 to 7 in October 2013.
A total of 55 new homes were sold during the 12 months that ended in November, up from 51 for the year that ended in October.
New home closings were 6 of the 126 total closings, up on a percentage basis from 2 of 113 a year earlier. For new and existing homes, closings rose year-over-year in November after also increasing in October year-over-year.
Pricing and Mortgage Trends
The average new home price was $217,500, a move from $219,000 a year earlier. This was on the heels of a 3.9% boost in October year-over-year.
The average mortgage size went down to $171,077 from $183,612 a year earlier. Average mortgage size on new homes went from $172,449 in October 2012 to $181,518 in October 2013.