Latest Figures Show New Home Prices Rise, Sales Decline in Bremerton
Posted on: Aug 08, 2014 11:11:13 AM
New home closings slid year-over-year in May in the Bremerton, WA market, and the decline was by a larger percentage than the April 2014. New home closings moved from 27 a year earlier to 5 after the figure moved from 27 in April 2013 to 9 in April 2014.
A total of 227 new homes were sold during the 12 months that ended in May, down from 249 for the year that ended in April.
New home closings represented 5 out of the 376 total closings, which is a smaller percentage than the 27 of 423 total closings a year earlier. Closings of new and existing homes sank year-over-year in May after also falling in April year-over-year.
Pricing and Mortgage Trends
The average new home value went from $262,932 last year to $299,260. This came after a 36.5% surge in April year-over-year.
The average mortgage size on new homes was $281,037, up from $235,606. Average mortgage size on new homes went from $268,729 in April 2013 to $363,730 in April 2014.