New home closings in the Sandusky, OH market stayed the same year-over-year in December, staying relatively stable after having decreased year-over-year in November. Closings remained level at 1 from a year earlier after the figure moved from 1 in November 2014 to none in November 2015.
1 of the 81 total closings were new home closings, a shift on a percentage basis from 1 out of 110 a year earlier. After rising year-over-year in November, closings of new and existing homes slid year-over-year in December.
Pricing and Mortgage Trends
The average new home price was $291,995, up from $211,762 a year earlier. This came after a.
Average mortgage size on new homes went from $222,400 a year earlier to $231,200.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in December 2015.
Combined, foreclosures plus REO closings made up 27.5% of existing home closings. They accounted for 27.5% in December 2014. The percentage of existing home closings involving foreclosures went from 12.8% in December 2014 to 13.8% in December 2015 and REO closings moved from 14.7% of existing home closings in December 2014 to 13.8% in December 2015.
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