Prices of New Homes Rise in Worcester, Sales Drop According to Freshest Data
Posted on: Apr 06, 2014 07:46:35 AM
New home closings in the Worcester, MA market fell year-over-year in December, dropping after a year-over-year increase in November 2013. New home closings moved from 22 a year earlier to 16 after the figure moved from 14 in November 2012 to 20 in November 2013.
A total of 249 new homes were sold during the 12 months that ended in December, down from 255 for the year that ended in November.
Of the total number of closings, new home closings made up 2.2%. They accounted for 3.0% of closings a year earlier. After falling in November from a year earlier, closings of new and existing homes stayed steady in December.
Pricing and Mortgage Trends
In December, the average price of newly sold homes jumped year-over-year to $478,798 per unit, a 24.1% rise. This lift is smaller than the 36.2% surge in November year-over-year.
In December 2013, average mortgage size on new homes went from $369,998 in December 2012 to $372,588 in December 2013. Average mortgage size on new homes went from $299,765 in November 2012 to $361,753 in November 2013.