Recent Numbers Show Prices of New Homes Climb in Corvallis, Sales Decline
Posted on: Aug 08, 2014 11:16:42 AM
In the Corvallis, OR market, new home closings dropped year-over-year in May, but the decline was less than the year-over-year decline in April. New home closings moved from 9 a year earlier to 1 after the figure moved from 3 in April 2013 to none in April 2014.
New home closings were 6.9% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 1 of the 103 total closings. After rising year-over-year in April, closings of new and existing homes declined year-over-year in May.
Pricing and Mortgage Trends
The average new home value went from $236,650 last year to $259,995. This came after a.
From the year-ago figure of $174,397, the average mortgage size on new homes moved up to $207,995.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in May 2014.