New Home Prices Climb in Toledo According to Newest Data, Sales Steady
Posted on: Aug 08, 2014 11:53:23 AM
Closings of new homes in the Toledo, OH market remained unchanged year-over-year in April, staying relatively stable after having decreased year-over-year in March. Closings remained level at 4 from a year earlier after the figure moved from 12 in March 2013 to 3 in March 2014.
A total of 47 new homes were sold during the 12 months that ended in April, equal to the number of new homes sold for the year that ended in March.
New home closings were 4 out of the 855 total closings, a move on a percentage basis from 4 of 1,148 a year earlier. Closings of new and existing homes declined year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average new home value went from $199,419 last year to $267,988. This was on the heels of a 32.0% decline in March from a year earlier.
There was a decline in average mortgage size on new homes, going from $163,342 last year to $138,415 in April 2014. Average mortgage size on new homes went from $206,569 in March 2013 to $149,619 in March 2014.