Freshest Figures Show New Home Sales and Prices Gain in Fairbanks
Posted on: Mar 06, 2014 07:13:34 AM
New home closings in the Fairbanks, AK market grew year-over-year in December,. Closings stood at 3 in December after being 2 a year earlier and remaining unchanged at 2 in November from a year earlier.
New home closings were 3 out of 96 total closings, making up 3.1%. This is up on a percentage basis from 2 of 98 a year earlier. Closings of new and existing homes fell year-over-year in December after also falling in November year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $294,901, an increase from $234,533 a year earlier. This came after a 34.8% bump in November year-over-year.
Average mortgage size on new homes went from $215,956 a year earlier to $256,808. Average mortgage size on new homes went from $247,996 in November 2012 to $266,203 in November 2013.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.