Latest Figures Show New Home Prices Rise, Sales Drop in New Haven
Posted on: Jul 06, 2014 07:25:35 AM
Closings of new homes declined year-over-year in April in the New Haven, CT market, but the decline was less than the year-over-year decline in March. New home closings moved from 9 a year earlier to 5 after the figure moved from 8 in March 2013 to 4 in March 2014.
A total of 132 new homes were sold during the 12 months that ended in April, down from 136 for the year that ended in March.
New home closings were 5 out of the 680 total closings, a move on a percentage basis from 9 of 673 a year earlier. Following a year-over-year increase in March, closings of new and existing homes also grew year-over-year in April.
Pricing and Mortgage Trends
The average new home value went from $409,584 last year to $447,297. This followed a 10.8% drop in March from a year earlier.
Average mortgage size on new homes fell from $365,312 to $303,775. Average mortgage size on new homes went from $347,457 in March 2013 to $258,738 in March 2014.