New Home Sales and Prices Decrease in Grand Forks According to Newest Data
Posted on: Dec 06, 2013 07:18:12 AM
In September, the Grand Forks, ND market saw a fall year-over-year in new home closings, dropping after a year-over-year increase in August 2013. New home closings moved from 7 a year earlier to 2 after the figure moved from 2 in August 2012 to 7 in August 2013.
A total of 41 new homes were sold during the 12 months that ended in September, down from 46 for the year that ended in August.
New home closings represented 2 out of the 99 total closings, which is a smaller percentage than the 7 of 147 total closings a year earlier. Closings of new and existing homes sank year-over-year in September after also falling in August year-over-year.
Pricing and Mortgage Trends
The average new home price was $248,000, down from $299,273 a year earlier. This followed a 50.0% boost in August year-over-year.
The average mortgage size went down to $198,400 from $260,766 a year earlier. Average mortgage size on new homes went from $169,600 in August 2012 to $279,799 in August 2013.