New Home Prices Increase in Missoula According to Latest Figures, Sales Decrease
Posted on: Dec 06, 2013 07:30:59 AM
In the Missoula, MT market, new home closings slid year-over-year in September, and the decline was by a larger percentage than the August 2013. New home closings moved from 4 a year earlier to 2 after the figure moved from 6 in August 2012 to 4 in August 2013.
A total of 51 new homes were sold during the 12 months that ended in September, down from 53 for the year that ended in August.
Last year, 4 of 156 total closings were new homes, and this percentage saw a decline as new home closings this year made up 2 of the 174 total closings. Following a year-over-year increase in August, closings of new and existing homes also grew year-over-year in September.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $235,625 from $213,752 a year ago. This followed a 15.2% gain in August year-over-year.
Average mortgage size on new homes increased to $193,500 from $171,002 last year. Average mortgage size on new homes went from $187,727 in August 2012 to $261,267 in August 2013.