New Home Sales and Prices Both Increase in Corvallis According to Latest Data
Posted on: Apr 06, 2014 07:10:12 AM
In January, closings of new homes rose year-over-year in the Corvallis, OR market, and the increase was similar to December 2013. New home closings moved from 3 a year earlier to 5 after the figure moved from 3 in December 2012 to 5 in December 2013.
A total of 112 new homes were sold during the 12 months that ended in January, up from 110 for the year that ended in December.
New home closings were 5 of the 46 total closings, up on a percentage basis from 3 of 53 a year earlier. Following a year-over-year decline in December, closings of new and existing homes also sank year-over-year in January.
Pricing and Mortgage Trends
The average price for newly sold homes moved north to $192,657 from $146,587 a year ago. This came after a 10.3% rise in December year-over-year.
The average mortgage size on new homes was $168,514, up from $137,767. Average mortgage size on new homes went from $135,331 in December 2012 to $236,000 in December 2013.