New Home Sales and Prices Both Increase in Boise City According to Freshest Data
Posted on: Mar 06, 2014 07:05:04 AM
The Boise City, ID market saw an increase in closings of new homes in December year-over-year, on an upswing after a decline in November 2013. Closings gained 45.5% from a year earlier to 211. In comparison, new home closings in the same month last year saw a 6.6% drop year-over-year in November.
A total of 2,491 new homes were sold during the 12 months that ended in December, up from 2,425 for the year that ended in November.
Of 1,336 total closings, 211 were of new homes. This is better than the 9.8% of closings a year earlier. Following a year-over-year decline in November, closings of new and existing homes also dropped year-over-year in December.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 13.0% gain year-over-year in December to $251,284 per unit. This boost is smaller than the 15.9% hike in November year-over-year.
For newly sold homes, the average mortgage size jumped year-over-year along with new home prices. The average mortgage size rose to $214,460 in December, marking a 11.4% gain compared with a year earlier. In November 2013, average mortgage size on newly sold homes saw a 16.6% rise year-over-year from a year earlier.