Muskegon, MI - Local Housing Data - Summary

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Muskegon, Norton Shores, MI

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Muskegon, MI Local News

New Home Prices Rise, Sales Decline in Muskegon - July 2014

Posted on: Jul 08, 2014 07:02:18 AM

Closings of new homes slid year-over-year in April in the Muskegon, MI market, falling after a rise in March 2014. New home closings moved from 6 a year earlier to 5 after the figure moved from 1 in March 2013 to 2 in March 2014.

A total of 24 new homes were sold during the 12 months that ended in April, down from 25 for the year that ended in March.

New home closings were 5 out of the 149 total closings, a move on a percentage basis from 6 of 202 a year earlier. For new and existing homes, closings slid in April after also declining in March year-over-year.

Pricing and Mortgage Trends

The average price of new homes was $189,880, an increase from $160,206 a year earlier. This was on the heels of a more than threefold bump in March year-over-year.

Average mortgage size on new homes rose from $106,181 to $162,115.

 
 
 

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