New Home Prices Gain in Salisbury According to Recent Figures, Sales Decrease
Posted on: Mar 06, 2014 07:37:24 AM
Closings of new homes fell year-over-year in November in the Salisbury, MD market, but the decline was less than the year-over-year decline in October. New home closings moved from 8 a year earlier to 6 after the figure moved from 5 in October 2012 to 3 in October 2013.
A total of 63 new homes were sold during the 12 months that ended in November, down from 65 for the year that ended in October.
On a percentage basis, new home closings as a part of total closings decreased to 5.4% from 8.9% a year earlier. Closings of new and existing homes rose year-over-year in November after also rising in October year-over-year.
Pricing and Mortgage Trends
The average new home price was $226,267, up from $183,863 a year earlier. This followed a 30.7% gain in October year-over-year.
The average mortgage size on new homes was $174,187, up from $164,725. Average mortgage size on new homes went from $179,052 in October 2012 to $273,167 in October 2013.