New Home Sales and Prices Decline in Hagerstown According to Newest Data
Posted on: Apr 06, 2014 07:17:04 AM
The Hagerstown, MD market saw a drop in new home closings year-over-year in December, falling after a rise in November 2013. New home closings moved from 17 a year earlier to 13 after the figure moved from 10 in November 2012 to 11 in November 2013.
A total of 113 new homes were sold during the 12 months that ended in December, down from 117 for the year that ended in November.
New home closings were 11.3% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 13 of the 150 total closings. Closings of new and existing homes stayed level after declining in November year-over-year.
Pricing and Mortgage Trends
The average new home price was $246,624, down from $279,432 a year earlier. This followed a 9.9% decline in November from a year earlier.
The average mortgage size went down to $241,870 from $261,920 a year earlier. Average mortgage size went from $276,322 in November 2012 to $278,457 in November 2013.