New Home Closings and Prices in Bellingham Rise According to Latest Figures
Posted on: Mar 06, 2014 07:03:57 AM
In the Bellingham, WA market, new home closings grew year-over-year in December, rebounding from a year-over-year decline in November 2013. New home closings moved from 10 a year earlier to 14 after the figure moved from 17 in November 2012 to 11 in November 2013.
A total of 191 new homes were sold during the 12 months that ended in December, up from 187 for the year that ended in November.
New home closings were 14 out of 283 total closings, making up 4.9%. This is up on a percentage basis from 10 of 304 a year earlier. For new and existing homes, closings sank in December after also declining in November year-over-year.
Pricing and Mortgage Trends
The average new home price was $313,592, up from $283,175 a year earlier. This came after a 12.9% lift in November year-over-year.
Average mortgage size on new homes rose from $207,328 to $228,397. Average mortgage size on new homes went from $278,898 in November 2012 to $275,189 in November 2013.