Recent Figures Show New Home Sales Level from Last Year, Prices Fall in Lewiston
Posted on: Mar 06, 2014 07:23:57 AM
Closings of new homes in the Lewiston, ID market saw no change year-over-year in December, staying level after a year-over-year increase in November from a year earlier. Closings remained level at 1 from a year earlier after the figure moved from none in November 2012 to 2 in November 2013. New home closings moved from 1 a year earlier to 1 after the figure moved from none in November 2012 to 2 in November 2013.
1 of the 69 total closings were new home closings, a shift on a percentage basis from 1 out of 86 a year earlier. Following a year-over-year rise in November, closings of new and existing homes declined year-over-year in December.
Pricing and Mortgage Trends
The average value of newly sold homes in December 2013 was $25,000, down from last year's $343,125. This was on the heels of a shift to an average price of $170,000 in November 2013 after there were no closings in November 2012.
The average mortgage size moved to $20,000, down from last year's $274,500.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in December 2013.