New Home Closings and Prices in Bend Gain According to Newest Figures
Posted on: Nov 12, 2013 07:04:35 AM
In the Bend, OR market in August, new home closings increased year-over-year, but there were signs the market may be leveling out with a percentage boost shallower than July 2013. Closings climbed 19.4% from a year earlier to 43. This followed a 25.0% jump year-over-year in July.
A total of 417 new homes were sold during the 12 months that ended in August, up from 410 for the year that ended in July.
As a percentage of total closings, new home closings made up 8.5%, unchanged from a year ago. Closings of new and existing homes gained year-over-year in August after also rising in July year-over-year.
Pricing and Mortgage Trends
In August, the average price of newly sold homes climbed 12.3% year-over-year to $290,520 per unit. This lift is smaller than the 16.2% rise in July year-over-year.
The average mortgage size on newly sold homes rose year-over-year along with the average price of new homes. In August 2013, the average mortgage size was $253,947, up 25.6% from a year earlier. Average mortgage size increased 24.1% in July 2013 from a year earlier.