New Home Sales Rise in Bridgeport, Prices Decrease According to Recent Data
Posted on: Mar 06, 2014 07:05:42 AM
There was an increase in closings of new homes in the Bridgeport, CT market in December year-over-year, but the increase was less than November 2013. New home closings moved from 17 a year earlier to 19 after the figure moved from 11 in November 2012 to 16 in November 2013.
A total of 236 new homes were sold during the 12 months that ended in December, up from 234 for the year that ended in November.
As a percentage of overall housing closings, new home closings accounted for 2.0% of closings, relatively stable from a year earlier. For new and existing homes, closings grew year-over-year in December after also increasing in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes dropped by 33.1% year-over-year to $495,072 per unit in December. This drop is larger than the 19.6% decline in November from a year earlier.
The average mortgage size on newly sold homes slid year-over-year in contrast to the average price of new homes. It slid 46.6% in December from a year earlier, reaching $398,486. Average mortgage size on new homes went from $669,063 in November 2012 to $386,145 in November 2013.