Prices of New Homes Gain in Coeur d'Alene, Sales Steady According to Recent Figures
Posted on: May 06, 2013 07:07:37 AM
The Coeur d'Alene, ID market saw no change in new home closings year-over-year in February, staying consistent after having increased in January from the year earlier. Closings stayed level at 17 from a year earlier, compared with a 47.4% hike in January year-over-year.
A total of 334 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
Out of all housing closings, new home closings represented 7.8%. New home closings were 7.9% of overall closings last year. For new and existing homes, closings rose year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
In February, there was a 5.3% rise year-over-year in the average price of newly sold homes, reaching $210,424 per unit. This rise is better than the 3.6% rise in January year-over-year.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. In February 2013, average mortgage size slipped 3.0% from a year earlier to $178,824. Average mortgage size fell 1.1% in January 2013 from a year earlier. For new home closings, the percentage of the sale price that was being financed dipped 7.3 percentage points year-over-year to 85.0% in February 2013.