Monroe, MI - Local Housing Data - Summary

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Monroe, MI Local News

New Home Prices Gain in Monroe According to Freshest Figures, Sales Decrease

Posted on: Apr 06, 2014 07:28:04 AM

In the Monroe, MI market, closings of new homes sank year-over-year in January, falling after a rise in December 2013. New home closings moved from 6 a year earlier to 5 after the figure moved from 3 in December 2012 to 7 in December 2013.

A total of 67 new homes were sold during the 12 months that ended in January, down from 68 for the year that ended in December.

New home closings were 5 of the 116 total closings, up on a percentage basis from 6 of 258 a year earlier. Following a year-over-year increase in December, closings of new and existing homes sank year-over-year in January.

Pricing and Mortgage Trends

The average new home value went from $175,459 last year to $182,593. This followed a 15.9% rise in December year-over-year.

Average mortgage size on new homes went from $132,691 a year earlier to $159,125. Average mortgage size on new homes went from $122,188 in December 2012 to $188,262 in December 2013.

 
 
 

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