Recent Figures Show New Home Sales and Prices Rise in Medford
Posted on: Jul 06, 2014 07:23:11 AM
In the Medford, OR market in April, new home closings increased year-over-year, and the increase was greater than March 2014. New home closings moved from 10 a year earlier to 22 after the figure moved from 19 in March 2013 to 21 in March 2014.
A total of 207 new homes were sold during the 12 months that ended in April, up from 195 for the year that ended in March.
New home closings were 22 of the 288 total closings, up on a percentage basis from 10 of 256 a year earlier. Following a drop in March year-over-year, closings of new and existing homes jumped year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes was $254,880, an increase from $231,628 a year earlier. This was on the heels of a 31.9% boost in March year-over-year.
The average mortgage size moved to $192,583, down from last year's $206,776. In March 2014, average mortgage size jumped 19.1% from a year earlier.