New Home Closings and Prices in Bangor Fall According to Freshest Figures
Posted on: Mar 06, 2014 07:03:09 AM
In the Bangor, ME market in December, new home closings declined year-over-year, declining after staying relatively stable in November from the year earlier. Closings stood at 1 in December after being 3 a year earlier and remaining unchanged at 2 in November from a year earlier.
New home closings were 3.2% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 1 of the 73 total closings. Closings of new and existing homes dropped year-over-year in December after also falling in November year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in December 2013 was $229,691, down from last year's $248,033. This was on the heels of a 78.1% surge in November year-over-year.
Average mortgage size on newly sold homes saw a decline year-over-year from $198,426 to $183,673. Average mortgage size on new homes went from $99,180 in November 2012 to $176,627 in November 2013.
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.