Freshest Numbers For South Bend Show New Home Closings and Prices Rise
Posted on: Mar 06, 2014 07:40:25 AM
In the South Bend, IN market in December, new home closings gained year-over-year, rebounding from a year-over-year decline in November 2013. New home closings moved from 3 a year earlier to 6 after the figure moved from 6 in November 2012 to 5 in November 2013.
A total of 81 new homes were sold during the 12 months that ended in December, up from 78 for the year that ended in November.
New home closings were 6 out of the 561 total closings, a move on a percentage basis from 3 of 465 a year earlier. Following a year-over-year increase in November, closings of new and existing homes also gained year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes was $173,542, an increase from $159,342 a year earlier. This followed a 18.1% lift in November year-over-year.
Average mortgage size on new homes increased to $140,000 from $136,128 last year. Average mortgage size on new homes went from $183,342 in November 2012 to $201,726 in November 2013.