New Home Closings and Prices in Corvallis Climb According to Recent Figures
Posted on: May 06, 2013 07:08:42 AM
In February, closings of new homes rose year-over-year in the Corvallis, OR market, and the increase was similar to January 2013. New home closings moved from two a year earlier to six after the figure moved from one in January 2012 to three in January 2013.
A total of 50 new homes were sold during the 12 months that ended in February, up from 46 for the year that ended in January.
New home closings were six of the 52 total closings, up on a percentage basis from two of 42 a year earlier. After dropping in January from a year earlier, closings of new and existing homes jumped year-over-year in February.
Pricing and Mortgage Trends
The average new home value went from $185,255 last year to $223,270,. This was on the heels of a 4.0% rise in January year-over-year.
The average mortgage size on new homes was $188,748, up from $180,559. Average mortgage size went from $137,425 in January 2012 to $137,767 in January 2013. The overall percentage of sale price that was being financed slid 12.9 percentage points year-over-year to 84.5% in February 2013.