New Home Sales and Prices Decline in Bridgeport According to Latest Data
Posted on: Jul 06, 2014 07:04:46 AM
In April, the Bridgeport, CT market saw a drop year-over-year in new home closings, but the decline was less than the year-over-year decline in March. New home closings moved from 17 a year earlier to 13 after the figure moved from 14 in March 2013 to 7 in March 2014.
A total of 216 new homes were sold during the 12 months that ended in April, down from 220 for the year that ended in March.
13 of the 810 total closings were new home closings, a shift on a percentage basis from 17 out of 835 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also sank year-over-year in April.
Pricing and Mortgage Trends
The average value of newly sold homes in April 2014 was $518,305, down from last year's $665,523. This was on the heels of a 5.6% fall in March from a year earlier.
Average mortgage size on new homes fell from $539,668 to $393,835. Average mortgage size on new homes went from $580,209 in March 2013 to $558,339 in March 2014.