Latest Figures Show New Home Sales and Prices Rise in Bellingham
Posted on: Dec 06, 2013 07:04:43 AM
In the Bellingham, WA market, new home closings gained year-over-year in September, rebounding from a year-over-year decline in August 2013. New home closings moved from 13 a year earlier to 25 after the figure moved from 20 in August 2012 to 18 in August 2013.
A total of 187 new homes were sold during the 12 months that ended in September, up from 175 for the year that ended in August.
New home closings were 25 out of 342 total closings, making up 7.3%. This is up on a percentage basis from 13 of 287 a year earlier. Following a year-over-year increase in August, closings of new and existing homes also rose year-over-year in September.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $352,402 from $305,215 a year ago. This followed a 13.3% hike in August year-over-year.
Average mortgage size on new homes increased to $312,741 from $239,729 last year. In August 2013, average mortgage size climbed 19.2% from a year earlier.