New Home Prices Climb in Topeka According to Latest Figures, Sales Decrease
Posted on: Mar 06, 2014 07:43:08 AM
In the Topeka, KS market, closings of new homes slid year-over-year in November, a decline following a rise in October 2013. New home closings moved from 4 a year earlier to 3 after the figure moved from 3 in October 2012 to 4 in October 2013.
A total of 50 new homes were sold during the 12 months that ended in November, down from 51 for the year that ended in October.
New home closings were 3 out of the 301 total closings, a move on a percentage basis from 4 of 295 a year earlier. Closings of new and existing homes rose year-over-year in November following a decline in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $298,184 from last year's $214,323. This followed a 9.2% drop in October from a year earlier.
Average mortgage size on new homes increased to $273,653 from $184,697 last year. Average mortgage size on new homes went from $181,466 in October 2012 to $174,678 in October 2013.