Newest Figures Show New Home Prices Rise, Sales Fall in Mansfield
Posted on: Apr 06, 2014 07:25:58 AM
Closings of new homes in the Mansfield, OH market declined year-over-year in December, and the decline was by a larger percentage than the November 2013. New home closings moved from 3 a year earlier to 1 after the figure moved from 2 in November 2012 to 1 in November 2013.
New home closings were 1 out of the 124 total closings, down on a percentage basis from 3 of 133 a year earlier. For new and existing homes, closings slid in December after also declining in November year-over-year.
The average price of new homes rose to $299,800 from last year's $123,725. This was on the heels of a 20.6% lift in November year-over-year.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.
Foreclosures and real estate owned (REO) closings fell in December from a year earlier, but remained a drag on the market. Together, foreclosures plus REO closings made up 52.0% of existing home closings, down from 57.7% a year earlier. The percentage of existing home closings involving foreclosures fell to 26.8% in December from 36.9% a year earlier while REO closings as a percentage of existing home closings gained to 25.2% from 20.8%.