Freshest Figures Show New Home Sales and Prices Increase in Fairbanks
Posted on: May 06, 2013 07:11:32 AM
In the Fairbanks, AK market in February, closings of new homes increased year-over-year, and the increase was greater than January 2013. New home closings moved from two a year earlier to three after the figure moved from none in January 2012 to two in January 2013.
A total of 27 new homes were sold during the 12 months that ended in February, up from 26 for the year that ended in January.
New home closings were three out of 61 total closings, making up 4.9%. This is up on a percentage basis from two of 74 a year earlier. For new and existing homes, closings declined in February after also declining in January year-over-year.
Pricing and Mortgage Trends
The average new home value went from $279,116 last year to $341,148,. This was on the heels of a set of periods with no new home closings in both January 2013 or January 2012
The average mortgage size on new homes was $294,085, up from $280,904.