Recent Figures Show New Home Sales and Prices Rise in Medford
Posted on: Apr 06, 2014 07:26:19 AM
In the Medford, OR market in January, new home closings rose year-over-year, but the increase was less than December 2013. New home closings moved from 9 a year earlier to 17 after the figure moved from 5 in December 2012 to 18 in December 2013.
A total of 189 new homes were sold during the 12 months that ended in January, up from 181 for the year that ended in December.
New home closings were 17 of the 187 total closings, up on a percentage basis from 9 of 175 a year earlier. Following a decline in December year-over-year, closings of new and existing homes grew year-over-year in January.
Pricing and Mortgage Trends
The average new home value went from $198,344 last year to $239,095. This was on the heels of a 18.8% bump in December year-over-year.
The average mortgage size on new homes was $199,468, up from $172,680. Average mortgage size on new homes went from $212,798 in December 2012 to $228,490 in December 2013.