New Home Sales and Prices Both Gain in Mount Vernon According to Freshest Data
Posted on: Aug 08, 2014 11:37:55 AM
New home closings in the Mount Vernon, WA market grew year-over-year in May, and the increase was greater than April 2014. New home closings moved from 14 a year earlier to 22 after the figure moved from 12 in April 2013 to 14 in April 2014.
A total of 187 new homes were sold during the 12 months that ended in May, up from 179 for the year that ended in April.
New home closings were 22 out of 226 total closings, making up 9.7%. This is up on a percentage basis from 14 of 231 a year earlier. Following a year-over-year decline in April, closings of new and existing homes also sank year-over-year in May.
Pricing and Mortgage Trends
The average price of new homes rose to $342,947 from last year's $300,507. This followed a 3.6% decline in April from a year earlier.
There was a decline in average mortgage size on new homes, going from $257,120 last year to $242,385 in May 2014. Average mortgage size on new homes went from $257,247 in April 2013 to $201,444 in April 2014.