New Home Sales and Prices Fall in Toledo According to Freshest Data
Posted on: Jul 06, 2014 07:36:55 AM
In the Toledo, OH market in March, new home closings sank year-over-year, a decline following a rise in February 2014. New home closings moved from 10 a year earlier to 9 after the figure moved from 3 in February 2013 to 8 in February 2014.
A total of 121 new homes were sold during the 12 months that ended in March, down from 122 for the year that ended in February.
New home closings were 9 out of the 644 total closings, a move on a percentage basis from 10 of 889 a year earlier. Following a year-over-year decline in February, closings of new and existing homes also slid year-over-year in March.
Pricing and Mortgage Trends
The average value of newly sold homes in March 2014 was $180,289, down from last year's $238,700. This was on the heels of a 2.7% boost in February year-over-year.
The average mortgage size went down to $151,156 from $199,603 a year earlier. Average mortgage size on new homes went from $188,367 in February 2013 to $179,973 in February 2014.