Closings of new homes in the Fond du Lac, WI market remained unchanged year-over-year in January, staying stable after little movement in December. Closings were unchanged at 1 from a year earlier after remaining steady at 1 in December from the year earlier.
Out of the 87 total closings, 1 were new home closings. This is consistent on a percentage basis with a year earlier. For new and existing homes, closings gained year-over-year in January after also increasing in December year-over-year.
Pricing and Mortgage Trends
The average value of newly sold homes in January 2016 was $214,900, down from last year's $253,500. This was on the heels of a 19.9% lift in December year-over-year.
Average mortgage size on new homes increased to $204,155 from $160,000 last year.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in January 2016.
Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in January, but did not appear to be dragging the market. Combined, foreclosures plus REO closings made up 18.6% of existing home closings, below 28.4% a year earlier. The percentage of existing home closings involving foreclosures sank to 10.5% in January from 13.6% a year earlier while REO closings as a percentage of existing home closings dropped to 8.1% from 14.8% a year earlier.