Prices of New Homes Increase in Dayton, Sales Decline According to Latest Data
Posted on: Jul 06, 2014 07:09:26 AM
In March, the Dayton, OH market saw a decline year-over-year in new home closings, a drop following an increase in February 2014. There was a 37.2% fall in new home closings from a year earlier. This came after a 6.7% jump year-over-year in February.
A total of 454 new homes were sold during the 12 months that ended in March, down from 470 for the year that ended in February.
Of the total number of closings, new home closings made up 2.5%. They accounted for 3.5% of closings a year earlier. For new and existing homes, closings declined in March after also declining in February year-over-year.
Pricing and Mortgage Trends
The average price of new homes gained year-over-year 21.1% in March to $271,881 per unit. This bump is an improvement over the 6.9% gain in February year-over-year.
There was a surge year-over-year in the average mortgage size on new homes along with new home prices. In March 2014, average mortgage size rose 20.2% from a year earlier to $242,133. Average mortgage size climbed 4.1% in February 2014 from a year earlier.