New Home Prices Rise in Dayton According to Latest Figures, Sales Decline
Posted on: Apr 06, 2014 07:10:49 AM
In the Dayton, OH market, new home closings dropped year-over-year in December, but the percentage drop was less than that of November 2013, hinting that the market may be strengthening. Closings sank 10.2% from a year earlier to 44. This came after a 20.9% decline year-over-year in November.
A total of 471 new homes were sold during the 12 months that ended in December, down from 476 for the year that ended in November.
As a percentage of overall housing closings, new home closings accounted for 4.2% of overall housing closings. A year earlier, new home closings made up 4.6% of total closings. After being steady in November from a year earlier, closings of new and existing homes remained level in December.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes grew year-over-year to $283,955 in December, up 13.5% from last year. This bump is an improvement over the 7.1% gain in November year-over-year.
For newly sold homes, the average mortgage size rose year-over-year along with new home prices. In December 2013, there was a 3.3% lift in the average mortgage size, reaching $242,633. Average mortgage size jumped 1.6% in November 2013 from a year earlier.