Freshest Numbers For Manchester Show New Home Closings and Prices Gain
Posted on: Aug 08, 2014 11:34:47 AM
In the Manchester, NH market, new home closings grew year-over-year in May, and the increase was greater than April 2014. New home closings moved from 4 a year earlier to 8 after the figure moved from 11 in April 2013 to 14 in April 2014.
A total of 88 new homes were sold during the 12 months that ended in May, up from 84 for the year that ended in April.
8 of the 489 total closings were new home closings, a shift on a percentage basis from 4 out of 505 a year earlier. Closings of new and existing homes saw a drop year-over-year in May after remaining steady in April year-over-year.
Pricing and Mortgage Trends
The average new home value went from $327,600 last year to $351,917. This followed a 12.2% decline in April from a year earlier.
Average mortgage size on new homes went from $198,187 a year earlier to $261,973. Average mortgage size on new homes went from $254,947 in April 2013 to $211,824 in April 2014.