Prices of New Homes Climb in Hartford, Sales Drop According to Freshest Data
Posted on: May 06, 2013 07:15:31 AM
The Hartford, CT market saw a drop in new home closings year-over-year in February, and the decline was by a larger percentage than the January 2013. New home closings moved from 15 a year earlier to 12 after the figure moved from 22 in January 2012 to 18 in January 2013.
A total of 295 new homes were sold during the 12 months that ended in February, down from 298 for the year that ended in January.
New home closings were 12 out of the 733 total closings, a move on a percentage basis from 15 of 615 a year earlier. For new and existing homes, closings grew year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $434,656 from last year's $411,204. This was on the heels of a 45.2% boost in January year-over-year.
The average mortgage size moved to $327,370, down from last year's $344,858. In January 2013, average mortgage size on newly sold homes saw a 36.1% lift year-over-year from a year earlier. The overall percentage of sale price that was being financed declined 8.5 percentage points year-over-year to 75.3% in February 2013.