New Home Prices Gain in Coeur d'Alene According to Freshest Figures, Sales Decline
Posted on: Apr 06, 2014 07:08:54 AM
In January, there was a decline year-over-year in new home closings in the Coeur d'Alene, ID market, curving down after an increase in December 2013. There was a 13.3% drop in new home closings from a year earlier. This came after a 58.3% jump year-over-year in December.
A total of 444 new homes were sold during the 12 months that ended in January, down from 448 for the year that ended in December.
Of the total number of closings, new home closings made up 11.9%. They represented 11.5% of closings a year earlier. Following a year-over-year rise in December, closings of new and existing homes declined year-over-year in January.
Pricing and Mortgage Trends
In January, the average price of newly sold homes rose 5.4% year-over-year to $209,853 per unit. This bump is smaller than the 15.6% lift in December year-over-year.
For newly sold homes, the average mortgage size increased year-over-year along with new home prices. Average mortgage size gained 5.4% to $178,674 in January from a year earlier. In December 2013, average mortgage size rose 11.8% from a year earlier.