New Home Sales and Prices Both Climb in Bend According to Newest Data
Posted on: Jul 06, 2014 07:03:27 AM
Closings of new homes jumped year-over-year in April in the Bend, OR market, and the market seemed to be signaling strengthening with a percentage boost more robust than March 2014. Closings rose more than twofold from a year earlier to 68. This was after the housing market saw a 41.2% boost year-over-year in March.
A total of 597 new homes were sold during the 12 months that ended in April, up from 561 for the year that ended in March.
Out of all housing closings, new home closings accounted for 16.0%. This is better than the 7.3% of closings a year earlier. Closings of new and existing homes fell year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
In April, there was a 23.1% bump year-over-year in the average price of newly sold homes, reaching $299,627 per unit. This lift is better than the 2.5% boost in March year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. It grew to $241,046 in April, a 22.1% hike. In March 2014, average mortgage size on newly sold homes saw a 9.7% gain year-over-year from a year earlier.