Freshest Figures Show New Home Prices Gain, Sales Fall in Lewiston
Posted on: Apr 06, 2014 07:23:35 AM
In January, the Lewiston, ME market saw a fall year-over-year in new home closings, dropping after a year-over-year increase in December 2013. New home closings moved from 3 a year earlier to 2 after the figure moved from 1 in December 2012 to 2 in December 2013.
New home closings represented 2 out of the 55 total closings, which is a smaller percentage than the 3 of 53 total closings a year earlier. Closings of new and existing homes gained year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $488,742, an increase from $201,815 a year earlier. This was on the heels of a 7.1% surge in December year-over-year.
The average mortgage size on new homes was $390,994, up from $161,452. Average mortgage size on new homes went from $177,500 in December 2012 to $238,967 in December 2013.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in January 2014.