New Home Closings and Prices in Kankakee Increase According to Newest Figures
Posted on: Jul 06, 2014 07:18:05 AM
There was an increase in closings of new homes in the Kankakee, IL market in March year-over-year,. Closings stood at 5 in March after being 3 a year earlier and remaining unchanged at 3 in February from a year earlier.
A total of 55 new homes were sold during the 12 months that ended in March, up from 53 for the year that ended in February.
New home closings were 5 of the 102 total closings, up on a percentage basis from 3 of 147 a year earlier. For new and existing homes, closings sank in March after also declining in February year-over-year.
Pricing and Mortgage Trends
The average new home price was $228,200, up from $154,000 a year earlier. This followed a 23.4% drop in February from a year earlier.
Average mortgage size on new homes increased to $188,939 from $126,435 last year. Average mortgage size on new homes went from $213,707 in February 2013 to $158,153 in February 2014.