Newest Figures Show New Home Sales and Prices Rise in Youngstown
Posted on: Feb 12, 2014 07:24:19 AM
There was a rise in new home closings in the Youngstown, OH market in October year-over-year, rebounding from a year-over-year decline in September 2013. New home closings moved from 6 a year earlier to 7 after the figure moved from 7 in September 2012 to 5 in September 2013.
A total of 54 new homes were sold during the 12 months that ended in October, up from 53 for the year that ended in September.
New home closings were 7 out of the 511 total closings, a move on a percentage basis from 6 of 613 a year earlier. Following a year-over-year rise in September, closings of new and existing homes dropped year-over-year in October.
Pricing and Mortgage Trends
The average new home price was $195,729, up from $168,517 a year earlier. This was on the heels of a 16.6% bump in September year-over-year.
Average mortgage size on new homes went from $101,600 a year earlier to $132,425. Average mortgage size on new homes went from $126,863 in September 2012 to $160,700 in September 2013.