Recent Figures Show New Home Sales and Prices Increase in Portland
Posted on: Jul 06, 2014 07:29:00 AM
In the Portland, ME market, closings of new homes grew year-over-year in April, and the increase was greater than March 2014. New home closings moved from 11 a year earlier to 14 after the figure moved from 13 in March 2013 to 15 in March 2014.
A total of 190 new homes were sold during the 12 months that ended in April, up from 187 for the year that ended in March.
New home closings were 14 out of the 247 total closings, a move on a percentage basis from 11 of 235 a year earlier. For new and existing homes, closings grew year-over-year in April after also increasing in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $323,992, an increase from $243,000 a year earlier. This followed a 29.6% boost in March year-over-year.
The average mortgage size on new homes was $268,255, up from $204,053. Average mortgage size on new homes went from $199,494 in March 2013 to $253,747 in March 2014.