Prices of New Homes Gain in Portland, Sales Decrease According to Latest Data
Posted on: Apr 06, 2014 07:33:35 AM
Closings of new homes in the Portland, ME market slid year-over-year in January, sliding after a growth in December 2013. New home closings moved from 13 a year earlier to 4 after the figure moved from 14 in December 2012 to 17 in December 2013.
A total of 184 new homes were sold during the 12 months that ended in January, down from 193 for the year that ended in December.
On a percentage basis, new home closings as a part of total closings decreased to 2.5% from 7.7% a year earlier. After rising year-over-year in December, closings of new and existing homes dropped year-over-year in January.
Pricing and Mortgage Trends
The average price of new homes was $310,908, an increase from $272,447 a year earlier. This was on the heels of a 19.1% bump in December year-over-year.
From the year-ago figure of $233,188, the average mortgage size on new homes moved up to $248,727. Average mortgage size on new homes went from $211,487 in December 2012 to $258,361 in December 2013.