New Home Closings and Prices in Salisbury Drop According to Freshest Figures
Posted on: Jul 06, 2014 07:32:10 AM
The Salisbury, MD market saw a drop in new home closings year-over-year in March, and the decline was by a larger percentage than the February 2014. New home closings moved from 7 a year earlier to 3 after the figure moved from 6 in February 2013 to 3 in February 2014.
A total of 55 new homes were sold during the 12 months that ended in March, down from 59 for the year that ended in February.
New home closings were 3 out of the 115 total closings, down on a percentage basis from 7 of 112 a year earlier. New and existing home closings grew in March after a remaining level in February from a year earlier.
Pricing and Mortgage Trends
The average new home price was $151,633, down from $199,396 a year earlier. This came after a 18.4% decline in February from a year earlier.
There was a decline in average mortgage size on new homes, going from $179,651 last year to $149,821 in March 2014. Average mortgage size on new homes went from $258,174 in February 2013 to $162,360 in February 2014.