Newest Numbers For Bismarck Show New Home Closings and Prices Gain
Posted on: Jul 06, 2014 07:03:51 AM
There was an increase in new home closings in the Bismarck, ND market in April year-over-year, swinging upward off a fall in March 2014. New home closings saw a rise of 81.0% from the year earlier to 38. This came after a 24.0% fall year-over-year in March.
A total of 393 new homes were sold during the 12 months that ended in April, up from 376 for the year that ended in March.
Of 200 total closings, 38 were of new homes. This is a surge from 11.7% of closings a year earlier. Following a fall in March year-over-year, closings of new and existing homes climbed year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes jumped year-over-year in April to $285,395 per unit, a rise of 11.9%. This rise is smaller than the 22.2% boost in March year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. It climbed to $227,897 in April, a 2.4% surge. In March 2014, average mortgage size on newly sold homes saw a 10.4% hike year-over-year from a year earlier.