New Home Sales and Prices Both Increase in Canton According to Latest Data
Posted on: Jul 06, 2014 07:05:17 AM
In the Canton, OH market, new home closings rose year-over-year in March, rebounding from a year-over-year decline in February 2014. New home closings moved from 5 a year earlier to 15 after the figure moved from 9 in February 2013 to 4 in February 2014.
A total of 178 new homes were sold during the 12 months that ended in March, up from 168 for the year that ended in February.
New home closings were 15 of the 493 total closings, up on a percentage basis from 5 of 510 a year earlier. For new and existing homes, closings dropped in March after also declining in February year-over-year.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $246,947 from $180,700 a year ago. This followed a 4.4% fall in February from a year earlier.
From the year-ago figure of $184,324, the average mortgage size on new homes moved up to $214,304. Average mortgage size on new homes went from $236,154 in February 2013 to $189,903 in February 2014.