Freshest Numbers Show New Home Closings Gain in Tulsa, Prices Decrease
Posted on: Dec 06, 2013 07:47:43 AM
New home closings gained year-over-year in August in the Tulsa, OK market, and the market seemed to be improving as the percentage bump was larger than that of July 2013. There was a 27.3% rise in new home closings from a year earlier. This came after a 23.6% jump year-over-year in July.
A total of 1,617 new homes were sold during the 12 months that ended in August, up from 1,582 for the year that ended in July.
Of 1,680 total closings, 163 were of new homes. This is an increase on a percentage basis, as new home closings were 8.3% of total closings a year ago. For new and existing homes, closings grew year-over-year in August after also increasing in July year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 2.8% drop year-over-year in August to $235,669 per unit. This drop compares to a 5.7% rise in July year-over-year.
Average mortgage size on new homes went from $207,792 in August 2012 to $207,352 in August 2013. Average mortgage size gained 6.2% in July 2013 from a year earlier.