Newest Figures Show New Home Prices Rise, Sales Drop in Topeka
Posted on: Jul 06, 2014 07:37:04 AM
Closings of new homes in the Topeka, KS market fell year-over-year in March, and the decline was by a larger percentage than the February 2014. New home closings moved from 7 a year earlier to 2 after the figure moved from 2 in February 2013 to 1 in February 2014.
New home closings represented 2 out of the 306 total closings, which is a smaller percentage than the 7 of 305 total closings a year earlier. Closings of new and existing homes remained steady in March after falling in February year-over-year.
Pricing and Mortgage Trends
The average new home price was $289,157, up from $222,760 a year earlier. This followed a 7.9% bump in February year-over-year.
The average mortgage size on new homes was $231,325, up from $182,622. Average mortgage size on new homes went from $208,750 in February 2013 to $225,208 in February 2014.
Other Market Trends
There was no change in the composition of the new home market with regard to the types of properties sold in March 2014.