New Home Sales and Prices Both Climb in Portland According to Latest Data
Posted on: Mar 06, 2014 07:33:47 AM
In December, there was an increase in closings of new homes in the Portland, ME market year-over-year, and the increase was greater than November 2013. New home closings moved from 14 a year earlier to 17 after the figure moved from 18 in November 2012 to 21 in November 2013.
A total of 193 new homes were sold during the 12 months that ended in December, up from 190 for the year that ended in November.
Out of the 218 total closings, 17 were new home closings. This is consistent on a percentage basis with a year earlier. Closings of new and existing homes increased year-over-year in December after also rising in November year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $314,769 from $264,358 a year ago. This came after a 21.3% boost in November year-over-year.
Average mortgage size on new homes increased to $258,361 from $211,487 last year. Average mortgage size grew 27.1% in November 2013 from a year earlier.