Newest Numbers For Manchester Show New Home Closings and Prices Increase
Posted on: May 06, 2013 07:22:46 AM
New home closings gained year-over-year in February in the Manchester, NH market, but the increase was less than January 2013. New home closings moved from eight a year earlier to nine after the figure moved from 10 in January 2012 to 24 in January 2013.
A total of 229 new homes were sold during the 12 months that ended in February, up from 228 for the year that ended in January.
Nine of the 269 total closings were new home closings, a shift on a percentage basis from eight out of 277 a year earlier. Following a year-over-year rise in January, closings of new and existing homes dipped year-over-year in February.
Pricing and Mortgage Trends
The average per-unit price of new homes was $362,489 in February 2013, up from $318,219 a year ago. This was on the heels of a 12.7% drop in January from a year earlier.
Average mortgage size on new homes went from $287,764 a year earlier to $296,261. Average mortgage size on new homes went from $266,751 in January 2012 to $202,016 in January 2013. For new home closings, the percentage of the sale price that was being financed slipped 8.7 percentage points year-over-year to 81.7% in February 2013.