Prices of New Homes Rise in Toledo, Sales Drop According to Freshest Data
Posted on: Mar 06, 2014 07:42:58 AM
The Toledo, OH market saw a drop in new home closings year-over-year in November, a decline following a rise in October 2013. New home closings moved from 12 a year earlier to 11 after the figure moved from 6 in October 2012 to 16 in October 2013.
A total of 104 new homes were sold during the 12 months that ended in November, down from 105 for the year that ended in October.
New home closings were 11 out of the 679 total closings, a move on a percentage basis from 12 of 681 a year earlier. Closings of new and existing homes stayed level after increasing in October year-over-year.
Pricing and Mortgage Trends
The average new home value went from $222,598 last year to $240,445. This followed a 12.9% bump in October year-over-year.
The average mortgage size on new homes was $236,454, up from $169,288. Average mortgage size on new homes went from $145,203 in October 2012 to $191,957 in October 2013.