Prices of New Homes Increase in Bend, Sales Decrease According to Recent Data
Posted on: Apr 06, 2014 07:04:20 AM
In the Bend, OR market, closings of new homes sank year-over-year in January, a downhill move after a gain in December 2013. Closings sank 10.0% from a year earlier to 27. In comparison, new home closings in the same month last year saw a more than twofold jump year-over-year in December.
A total of 529 new homes were sold during the 12 months that ended in January, down from 532 for the year that ended in December.
New home closings were 11.9% of total number of closings, same as last year. After rising year-over-year in December, closings of new and existing homes dropped year-over-year in January.
Pricing and Mortgage Trends
The average price of newly sold homes rose year-over-year 26.5% in January to $307,636 per unit. This hike is better than the 21.6% gain in December year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. The average mortgage size saw a 8.4% surge year-over-year to $214,225 in January. Average mortgage size jumped 16.9% in December 2013 from a year earlier.