New Home Prices Gain in Columbus According to Newest Figures, Sales Decline
Posted on: Jul 06, 2014 07:08:32 AM
Closings of new homes in the Columbus, OH market dropped year-over-year in March, sliding down after a surge in February 2014. Closings went from 216 in March 2013 to 214 in March 2014. This came after new home closings gained 10.8% in February from the year earlier.
A total of 2,826 new homes were sold during the 12 months that ended in March, down from 2,828 for the year that ended in February.
Out of all housing closings, new home closings represented 8.3%. This is better than the 7.1% of closings a year earlier. For new and existing homes, closings slid in March after also declining in February year-over-year.
Pricing and Mortgage Trends
In March, the average value of new homes saw a 12.5% bump year-over-year as it grew to $274,271 per unit. This bump is an improvement over the 4.7% surge in February year-over-year.
The average mortgage size on newly sold homes saw a hike year-over-year along with new home prices. In March 2014, the average mortgage size on newly sold homes saw a 11.5% gain from a year earlier. Average mortgage size gained 12.9% in February 2014 from a year earlier.