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Bremerton, WA Local News

Bremerton, WA - Freshest Figures for New Home Sales Suggest Market Fall is Mounting

Posted on: May 06, 2012 09:16:53 AM

The Bremerton, WA market saw a drop in new home sales year-over-year in February, and the decline was by a larger percentage than the January 2012. New home sales moved from 17 a year earlier to eight after the figure moved from 15 in January 2011 to 10 in January 2012.

A total of 195 new homes were sold during the 12 months that ended in February, down from 204 for the year that ended in January.

New home sales were 7.0% of total sales a year earlier, and this percentage saw a decline as new home sales this year made up eight of the 193 total sales. Sales of new and existing homes dropped year-over-year in February after also falling in January year-over-year.

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Pricing and Mortgage Trends

The average new home price was $287,263, down from $335,090 a year earlier. This came after a 1.2% decline in January from a year earlier.

Average mortgage size on newly sold homes saw a decline year-over-year from $333,254 to $227,246. Average mortgage size on new homes went from $266,552 in January 2011 to $246,286 in January 2012. For new home sales, the percentage of the sale price that was being financed fell 20.3 percentage points year-over-year to 79.1% in February 2012.

 
 
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