New Home Prices Climb in Corvallis According to Recent Figures, Sales Decline
Posted on: Jul 06, 2014 07:08:48 AM
New home closings in the Corvallis, OR market fell year-over-year in April, but the decline was less than the year-over-year decline in March. New home closings moved from 14 a year earlier to 7 after the figure moved from 7 in March 2013 to 3 in March 2014.
A total of 102 new homes were sold during the 12 months that ended in April, down from 109 for the year that ended in March.
New home closings represented 7 out of the 94 total closings, which is a smaller percentage than the 14 of 92 total closings a year earlier. Following a year-over-year increase in March, closings of new and existing homes also gained year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes was $252,542, an increase from $214,304 a year earlier. This followed a move from $253,352 per unit in March 2013 to $251,665 in March 2014.
Average mortgage size on new homes rose from $187,472 to $206,043. Average mortgage size on new homes went from $217,260 in March 2013 to $190,999 in March 2014.