Recent Figures Show New Home Prices Rise, Sales Drop in Kankakee
Posted on: Apr 06, 2014 07:20:53 AM
In the Kankakee, IL market in December, closings of new homes slid year-over-year, dropping after a year-over-year increase in November 2013. New home closings moved from 6 a year earlier to 3 after the figure moved from 2 in November 2012 to 6 in November 2013.
A total of 52 new homes were sold during the 12 months that ended in December, down from 55 for the year that ended in November.
On a percentage basis, new home closings as a part of total closings decreased to 2.4% from 5.0% a year earlier. For new and existing homes, closings jumped year-over-year in December after also increasing in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $191,333 from last year's $180,417. This was on the heels of a move from $219,000 per unit to $217,500 from November 2012 to November 2013.
Average mortgage size on new homes fell from $156,925 to $105,750. Average mortgage size on new homes went from $183,612 in November 2012 to $171,077 in November 2013.