Newest Figures Show New Home Prices Increase, Sales Fall in Toledo
Posted on: May 06, 2013 07:36:51 AM
Closings of new homes dropped year-over-year in January in the Toledo, OH market, but the decline was less than the year-over-year decline in December. New home closings moved from eight a year earlier to seven after the figure moved from 18 in December 2011 to 11 in December 2012.
A total of 129 new homes were sold during the 12 months that ended in January, down from 130 for the year that ended in December.
Seven of the 723 total closings were new home closings, a shift on a percentage basis from eight out of 699 a year earlier. Closings of new and existing homes rose year-over-year in January following a fall in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $203,766, an increase from $186,969 a year earlier. This followed a 14.2% lift in December year-over-year.
The average mortgage size on new homes was $239,849, up from $174,225. Average mortgage size on new homes went from $161,796 in December 2011 to $226,337 in December 2012.