New Home Sales Gain in Hagerstown, Prices Decrease According to Freshest Data
Posted on: Mar 06, 2014 07:17:25 AM
There was a rise in new home closings in the Hagerstown, MD market in November year-over-year, but the increase was less than October 2013. New home closings moved from 10 a year earlier to 11 after the figure moved from 9 in October 2012 to 11 in October 2013.
A total of 117 new homes were sold during the 12 months that ended in November, up from 116 for the year that ended in October.
New home closings were 11 of the 118 total closings, up on a percentage basis from 10 of 142 a year earlier. Following a year-over-year rise in October, closings of new and existing homes fell year-over-year in November.
Pricing and Mortgage Trends
The average new home price was $316,140, down from $350,793 a year earlier. This came after a 2.4% drop in October from a year earlier.
Average mortgage size on new homes moved from $276,322 to $278,457. Average mortgage size on new homes went from $290,036 in October 2012 to $235,363 in October 2013.