New Home Closings and Prices in Hagerstown Increase According to Latest Figures
Posted on: Nov 12, 2013 07:18:51 AM
In the Hagerstown, MD market in July, new home closings grew year-over-year, rebounding from a year-over-year decline in June 2013. New home closings moved from 8 a year earlier to 11 after the figure moved from 6 in June 2012 to 5 in June 2013.
A total of 112 new homes were sold during the 12 months that ended in July, up from 109 for the year that ended in June.
New home closings were 11 out of the 175 total closings, a move on a percentage basis from 8 of 114 a year earlier. Following a year-over-year increase in June, closings of new and existing homes also gained year-over-year in July.
Pricing and Mortgage Trends
The average price of new homes was $274,481, an increase from $236,705 a year earlier. This followed a 8.3% boost in June year-over-year.
Average mortgage size on new homes increased to $239,033 from $204,425 last year. Average mortgage size on new homes went from $257,029 in June 2012 to $261,308 in June 2013.