New Home Closings and Prices in Manchester Rise According to Latest Figures
Posted on: Dec 06, 2013 07:28:52 AM
In September, closings of new homes increased year-over-year in the Manchester, NH market, but the percentage boost was less than August 2013, suggesting the market may be leveling. Closings climbed 7.4% from a year earlier to 29. In comparison, new home closings in the same month last year saw a 44.4% boost year-over-year in August.
A total of 261 new homes were sold during the 12 months that ended in September, up from 259 for the year that ended in August.
As a percentage of overall housing closings, new home closings represented 6.5% of overall housing closings. A year ago, new home closings made up 6.4%. For new and existing homes, closings rose year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had a 25.9% boost year-over-year to $333,480 per unit in September. This gain is better than the 8.4% surge in August year-over-year.
The average mortgage size on newly sold homes climbed year-over-year along with the average price of new homes. The average mortgage size rose to $272,153 in September, marking a 37.2% boost compared with a year earlier. In August 2013, average mortgage size grew 2.4% from a year earlier.