Latest Numbers Show New Home Closings Climb in Oshkosh, Prices Decline
Posted on: May 06, 2013 07:27:28 AM
There was a rise in new home closings in the Oshkosh, WI market in February year-over-year, rebounding from a year-over-year decline in January 2013. New home closings moved from two a year earlier to eight after the figure moved from seven in January 2012 to five in January 2013.
A total of 106 new homes were sold during the 12 months that ended in February, up from 100 for the year that ended in January.
New home closings were eight out of 147 total closings, making up 5.4%. This is up on a percentage basis from two of 125 a year earlier. Closings of new and existing homes grew year-over-year in February following a decline in January year-over-year.
Pricing and Mortgage Trends
The average per-unit price of new homes was $189,825, compared with $310,600 last year. This was on the heels of a 5.2% decline in January from a year earlier.
The average mortgage size went down to $186,616 from $216,000 a year earlier. Average mortgage size on new homes went from $176,860 in January 2012 to $161,279 in January 2013. For new home closings, the percentage of the sale price that was being financed rose 28.8 percentage points year-over-year to 98.3% in February 2013. This came after a 3.5 percentage point decline in January from a year earlier.