New Home Sales and Prices Both Gain in Canton According to Latest Data
Posted on: Mar 06, 2014 07:06:21 AM
There was an increase in closings of new homes in the Canton, OH market in November year-over-year, and the increase was similar to October 2013. New home closings moved from 5 a year earlier to 11 after the figure moved from 10 in October 2012 to 22 in October 2013.
A total of 160 new homes were sold during the 12 months that ended in November, up from 154 for the year that ended in October.
New home closings were 11 of the 471 total closings, up on a percentage basis from 5 of 385 a year earlier. Closings of new and existing homes gained year-over-year in November after also rising in October year-over-year.
Pricing and Mortgage Trends
The average new home price was $193,809, up from $151,380 a year earlier. This followed a 35.1% bump in October year-over-year.
From the year-ago figure of $20,800, the average mortgage size on new homes moved up to $176,351. Average mortgage size on new homes went from $166,900 in October 2012 to $182,357 in October 2013.