Recent Numbers Show Prices of New Homes Increase in Manchester, Sales Decline
Posted on: Apr 06, 2014 07:25:40 AM
In January, there was a decline year-over-year in new home closings in the Manchester, NH market, sliding after a growth in December 2013. New home closings moved from 24 a year earlier to 8 after the figure moved from 21 in December 2012 to 24 in December 2013.
A total of 255 new homes were sold during the 12 months that ended in January, down from 271 for the year that ended in December.
New home closings were 8 out of the 208 total closings, down on a percentage basis from 24 of 295 a year earlier. After rising year-over-year in December, closings of new and existing homes fell year-over-year in January.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $298,067 from $265,583 a year ago. This came after a 4.5% drop in December from a year earlier.
The average mortgage size moved to $164,917, down from last year's $202,016. In December 2013, average mortgage size declined 10.4% from a year earlier.