New Home Prices Rise in Toledo According to Newest Figures, Sales Drop
Posted on: Dec 06, 2013 07:47:01 AM
In the Toledo, OH market in August, closings of new homes sank year-over-year, and the decline was by a larger percentage than the July 2013. New home closings moved from 19 a year earlier to 10 after the figure moved from 12 in July 2012 to 7 in July 2013.
A total of 95 new homes were sold during the 12 months that ended in August, down from 104 for the year that ended in July.
New home closings were 10 out of the 786 total closings, a move on a percentage basis from 19 of 1,089 a year earlier. Following a year-over-year decline in July, closings of new and existing homes also slid year-over-year in August.
Pricing and Mortgage Trends
The average new home price was $272,294, up from $194,102 a year earlier. This was on the heels of a 29.1% bump in July year-over-year.
Average mortgage size on new homes increased to $237,193 from $158,784 last year. Average mortgage size on new homes went from $167,002 in July 2012 to $272,698 in July 2013.