Prices of New Homes Climb in Hartford, Sales Steady According to Newest Figures
Posted on: Apr 06, 2014 07:17:43 AM
The Hartford, CT market saw no change in new home closings year-over-year in January, evening out after a drop in December from the year earlier. New home closings stayed level from a year earlier at 19. There was a fall of 17.6% in new home closings in the same month last year.
A total of 281 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
Out of all housing closings, new home closings represented 2.4%. A year ago, new home closings represented 2.1%. Following a year-over-year rise in December, closings of new and existing homes dropped year-over-year in January.
Pricing and Mortgage Trends
Average price of newly sold homes had a 11.3% lift year-over-year to $541,999 per unit in January. This surge compares to a 3.9% fall in December from a year earlier.
The average mortgage size on newly sold homes saw a hike year-over-year along with new home prices. It rose to $373,228 in January, a 8.1% rise. In December 2013, average mortgage size climbed 13.0% from a year earlier.