New Home Closings and Prices in Grand Forks Gain According to Recent Figures
Posted on: Feb 11, 2014 07:13:51 AM
New home closings gained year-over-year in November in the Grand Forks, ND market, rebounding from a year-over-year decline in October 2013. New home closings moved from 2 a year earlier to 3 after the figure moved from 6 in October 2012 to none in October 2013.
New home closings were 3 of the 90 total closings, up on a percentage basis from 2 of 123 a year earlier. Following a year-over-year decline in October, closings of new and existing homes also slid year-over-year in November.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $391,688 from $280,708 a year ago. This came after a.
Average mortgage size on new homes rose from $250,745 to $313,350.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in November 2013.