Prices of New Homes Rise in Logan, Sales Steady According to Recent Figures
Posted on: Aug 08, 2014 11:33:12 AM
Closings of new homes in the Logan, UT market remained steady year-over-year in May, staying level after a year-over-year decline in April from the year earlier. Closings remained level at 2 from a year earlier after the figure moved from 2 in April 2013 to 1 in April 2014.
2 of the 169 total closings were new home closings, a shift on a percentage basis from 2 out of 202 a year earlier. Following a year-over-year increase in April, closings of new and existing homes sank year-over-year in May.
Pricing and Mortgage Trends
The average new home price was $218,013, up from $197,066 a year earlier. This followed a 1.8% gain in April year-over-year.
Average mortgage size on new homes rose from $157,653 to $174,411. Average mortgage size on new homes went from $190,557 in April 2013 to $156,690 in April 2014.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.