Freshest Figures Show New Home Sales Rise in Bridgeport, Prices Decline
Posted on: Dec 06, 2013 07:06:38 AM
In September, closings of new homes jumped year-over-year in the Bridgeport, CT market, and there were signals that the market may be improving as the percentage surge was better than August 2013. There was a 63.2% jump in new home closings from a year earlier. This was after the housing market saw a 57.9% climb year-over-year in August.
A total of 231 new homes were sold during the 12 months that ended in September, up from 219 for the year that ended in August.
New home closings represented 3.3% of overall housing closings. A year earlier, new home closings accounted for 2.5% of total closings. Closings of new and existing homes jumped year-over-year in September after also rising in August year-over-year.
Pricing and Mortgage Trends
The average price of newly sold homes declined 3.4% year-over-year in September to $598,093 per unit. This decline is a drop off from the 13.1% drop in August from a year earlier.
The average mortgage size on newly sold homes climbed year-over-year in contrast to the average price of new homes. In September 2013, average mortgage size increased 24.7% from a year earlier to $362,498. Average mortgage size climbed 20.3% in August 2013 from a year earlier.