Freshest Figures Show New Home Sales and Prices Increase in Medford
Posted on: Mar 06, 2014 07:26:41 AM
In the Medford, OR market in December, new home closings increased year-over-year, and the increase was greater than November 2013. New home closings moved from 5 a year earlier to 18 after the figure moved from 10 in November 2012 to 20 in November 2013.
A total of 181 new homes were sold during the 12 months that ended in December, up from 168 for the year that ended in November.
New home closings were 18 of the 236 total closings, up on a percentage basis from 5 of 245 a year earlier. Closings of new and existing homes dropped year-over-year in December after also falling in November year-over-year.
Pricing and Mortgage Trends
The average new home value went from $217,778 last year to $258,787. This followed a 8.0% drop in November from a year earlier.
From the year-ago figure of $212,798, the average mortgage size on new homes moved up to $228,490. Average mortgage size on new homes went from $214,334 in November 2012 to $193,599 in November 2013.