Newest Figures Show New Home Sales and Prices Rise in Hagerstown
Posted on: Aug 08, 2014 11:25:10 AM
Closings of new homes gained year-over-year in April in the Hagerstown, MD market, rebounding from a year-over-year decline in March 2014. New home closings moved from 6 a year earlier to 11 after the figure moved from 10 in March 2013 to 6 in March 2014.
A total of 111 new homes were sold during the 12 months that ended in April, up from 106 for the year that ended in March.
New home closings were 11 out of 170 total closings, making up 6.5%. This is up on a percentage basis from 6 of 160 a year earlier. After dropping in March from a year earlier, closings of new and existing homes jumped year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes rose to $272,646 from last year's $247,802. This followed a 19.3% gain in March year-over-year.
Average mortgage size on new homes increased to $217,582 from $181,523 last year. Average mortgage size on new homes went from $190,453 in March 2013 to $249,794 in March 2014.