New Home Sales and Prices Both Gain in Bismarck According to Freshest Data
Posted on: Apr 06, 2014 07:04:47 AM
Closings of new homes in the Bismarck, ND market rose year-over-year in January, and the increase was greater than December 2013. New home closings moved from 9 a year earlier to 19 after the figure moved from 23 in December 2012 to 34 in December 2013.
A total of 345 new homes were sold during the 12 months that ended in January, up from 335 for the year that ended in December.
New home closings were 19 of the 139 total closings, up on a percentage basis from 9 of 130 a year earlier. After dropping in December from a year earlier, closings of new and existing homes jumped year-over-year in January.
Pricing and Mortgage Trends
The average price of new homes rose to $319,931 from last year's $280,058. This was on the heels of a move from $251,887 per unit in December 2012 to $251,290 in December 2013.
From the year-ago figure of $212,172, the average mortgage size on new homes moved up to $272,858. In December 2013, average mortgage size on newly sold homes saw a 7.4% decline from a year earlier.