New Home Closings and Prices in Lawton Drop According to Freshest Figures
Posted on: Mar 06, 2014 07:23:40 AM
In the Lawton, OK market, closings of new homes declined year-over-year in November, and the decline was similar to October 2013. New home closings moved from 15 a year earlier to 9 after the figure moved from 15 in October 2012 to 9 in October 2013.
A total of 150 new homes were sold during the 12 months that ended in November, down from 156 for the year that ended in October.
New home closings represented 9 out of the 128 total closings, which is a smaller percentage than the 15 of 132 total closings a year earlier. Following a year-over-year rise in October, closings of new and existing homes sank year-over-year in November.
Pricing and Mortgage Trends
The average value of newly sold homes in November 2013 was $223,500, down from last year's $233,033. This was on the heels of a 4.9% drop in October from a year earlier.
The average mortgage size went down to $219,320 from $222,577 a year earlier. Average mortgage size on new homes went from $213,794 in October 2012 to $196,787 in October 2013.