New Home Prices Increase in Oxnard According to Newest Figures, Sales Decline
Posted on: Jul 06, 2014 07:27:31 AM
In the Oxnard, CA market in April, closings of new homes slid year-over-year, but with a percentage drop less steep than March 2014, there are hints the market may be leveling out. New home closings saw a 17.5% drop from a year earlier to 33. In comparison, new home closings in the same month last year saw a 50.0% decline year-over-year in March.
A total of 332 new homes were sold during the 12 months that ended in April, down from 339 for the year that ended in March.
New home closings represented 4.0% of overall housing closings. A year earlier, new home closings accounted for 4.3% of total closings. Closings of new and existing homes fell year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
In April, the average price of newly sold homes increased 20.3% year-over-year to $541,859 per unit. This bump is smaller than the 30.8% lift in March year-over-year.
The average mortgage size on newly sold homes gained year-over-year along with the average price of new homes. It jumped to $432,850 in April, a 18.8% boost. In March 2014, average mortgage size on newly sold homes saw a 38.5% rise year-over-year from a year earlier.