Freshest Figures Show New Home Sales and Prices Increase in Columbus
Posted on: Mar 06, 2014 07:09:47 AM
New home closings climbed year-over-year in November in the Columbus, OH market, rising after a drop in October 2013. There was a 55.9% hike in new home closings from a year earlier. This came on the heels of a 5.6% drop year-over-year in October.
A total of 2,858 new homes were sold during the 12 months that ended in November, up from 2,745 for the year that ended in October.
As a percentage of overall housing closings, new home closings accounted for 10.7%. This is a hike from 7.4% of closings a year earlier. Closings of new and existing homes jumped year-over-year in November after also rising in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes climbed year-over-year 1.9% in November to $243,066 per unit. This bump is smaller than the 5.4% gain in October year-over-year.
The average mortgage size on newly sold homes saw a bump year-over-year along with new home prices. In November 2013, average mortgage size grew 13.2% from a year earlier to $232,866. In October 2013, average mortgage size on newly sold homes saw a 13.5% lift year-over-year from a year earlier.