Prices of New Homes Increase in Medford, Sales Decrease According to Newest Data
Posted on: Dec 06, 2013 07:29:35 AM
In the Medford, OR market, new home closings declined year-over-year in September, a decline following a rise in August 2013. New home closings moved from 14 a year earlier to 13 after the figure moved from 18 in August 2012 to 21 in August 2013.
A total of 153 new homes were sold during the 12 months that ended in September, down from 154 for the year that ended in August.
New home closings were 13 of the 227 total closings, up on a percentage basis from 14 of 298 a year earlier. For new and existing homes, closings declined in September after also declining in August year-over-year.
Pricing and Mortgage Trends
The average new home price was $266,919, up from $254,968 a year earlier. This followed a move from $223,229 per unit to $223,997 from August 2012 to August 2013.
Average mortgage size on new homes went from $192,646 a year earlier to $206,784. In August 2013, average mortgage size sank 3.4% from a year earlier.