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Mount Vernon, Anacortes, WA

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Mount Vernon, WA Local News

Mount Vernon, WA - Recent New Home Sales Numbers Suggest Market Drop is Slowing

Posted on: May 07, 2012 09:30:19 AM

In the Mount Vernon, WA market, sales of new homes slid year-over-year in February, but the decline was less than the year-over-year decline in January. New home sales moved from seven a year earlier to four after the figure moved from five in January 2011 to two in January 2012.

A total of 82 new homes were sold during the 12 months that ended in February, down from 85 for the year that ended in January.

Four of the 88 total sales were new home sales, a shift on a percentage basis from seven out of 133 a year earlier. Sales of new and existing homes fell 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 $215,480 in February 2012, up from $212,400 a year earlier. This followed a 4.9% decline in January from a year earlier.

The average mortgage size on new homes was $206,900, up from $163,713. Average mortgage size on new homes went from $199,070 in January 2011 to $194,146 in January 2012. The overall percentage of sale price that was being financed gained 18.9 percentage points year-over-year to 96.0% in February 2012. This was another rise after January 2012 when there was a 2.2 percentage point rise from a year earlier.

 
 
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