New Home Prices Rise in Dayton According to Recent Figures, Sales Decline
Posted on: Mar 06, 2014 07:10:48 AM
In the Dayton, OH market in November, new home closings dropped year-over-year, and the percentage fall worsened from October 2013, indicating the market may be weakening. New home closings saw a fall of 20.9% from the year earlier to 34. This came after a 4.7% drop year-over-year in October.
A total of 470 new homes were sold during the 12 months that ended in November, down from 479 for the year that ended in October.
Out of all housing closings, new home closings represented 3.0%. They accounted for 3.8% of closings a year earlier. After rising year-over-year in October, closings of new and existing homes sank year-over-year in November.
Pricing and Mortgage Trends
For newly sold homes, the average price grew 7.1% year-over-year in November to $267,315 per unit. This hike is smaller than the 13.9% surge in October year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In November 2013, the average mortgage size was $224,733, up 1.6% from a year earlier. In October 2013, average mortgage size grew 11.7% from a year earlier.