Latest Figures Show New Home Sales Rise in Manchester, Prices Drop
Posted on: Jul 06, 2014 07:22:39 AM
There was a rise in closings of new homes in the Manchester, NH market in April year-over-year, moving upward off a fall in March 2014. New home closings saw a 3.6% boost from a year earlier to 29. This was after the housing market saw a 5.6% decline year-over-year in March.
A total of 271 new homes were sold during the 12 months that ended in April, up from 270 for the year that ended in March.
New home closings represented 7.4% of overall housing closings. A year ago, 6.9% of total closings were new home closings. For new and existing homes, closings fell in April after also declining in March year-over-year.
Pricing and Mortgage Trends
In April, the average per-unit price of new homes slid by 8.0% year-over-year to $264,906. This drop compares to a 24.1% lift in March year-over-year.
For newly sold homes, the average mortgage size saw a drop year-over-year in contrast to new home prices. Average mortgage size dropped by 14.8% from a year earlier, settling at $215,530 in April. In March 2014, average mortgage size on newly sold homes saw a 15.1% rise year-over-year from a year earlier.