Prices of New Homes Increase in Anchorage, Sales Drop According to Freshest Data
Posted on: Jul 06, 2014 07:01:24 AM
The Anchorage, AK market saw a drop in new home closings year-over-year in April, drawing a downward slope off of a rise in March 2014. There was a 18.8% fall in new home closings from a year earlier. This followed a 50.0% boost year-over-year in March.
A total of 545 new homes were sold during the 12 months that ended in April, down from 554 for the year that ended in March.
As a percentage of overall housing closings, new home closings made up 5.2%. This is a decline 6.3% of closings a year earlier. Following a year-over-year rise in March, closings of new and existing homes sank year-over-year in April.
Pricing and Mortgage Trends
The average price of newly sold homes climbed year-over-year 10.5% in April to $404,463 per unit. This hike is higher than the 6.4% bump in March year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. In April 2014, the average mortgage size was $369,533, a 15.2% gain from a year earlier. Average mortgage size rose 3.0% in March 2014 from a year earlier.