Newest Figures Show New Home Sales and Prices Increase in Lawton
Posted on: Jul 06, 2014 07:20:34 AM
In the Lawton, OK market, closings of new homes rose year-over-year in March, rebounding from a year-over-year decline in February 2014. New home closings moved from 7 a year earlier to 14 after the figure moved from 11 in February 2013 to 6 in February 2014.
A total of 150 new homes were sold during the 12 months that ended in March, up from 143 for the year that ended in February.
New home closings were 14 out of 172 total closings, making up 8.1%. This is up on a percentage basis from 7 of 133 a year earlier. Following a decline in February year-over-year, closings of new and existing homes gained year-over-year in March.
Pricing and Mortgage Trends
The average new home price was $220,464, up from $206,643 a year earlier. This was on the heels of a move from $209,364 per unit in February 2013 to $210,267 in February 2014.
Average mortgage size on newly sold homes saw a decline year-over-year from $211,750 to $208,802. Average mortgage size on new homes went from $208,170 in February 2013 to $198,215 in February 2014.