New Home Closings and Prices in Bradenton Gain According to Newest Figures
Posted on: Jul 06, 2014 07:26:09 AM
New home closings gained year-over-year in April in the Bradenton, FL market, and the percentage lift was greater than March 2014, giving hints of improving market conditions. New home closings saw a climb of 16.8% from the year earlier to 229. This came after a 10.2% climb year-over-year in March.
A total of 3,261 new homes were sold during the 12 months that ended in April, up from 3,228 for the year that ended in March.
As a percentage of overall housing closings, new home closings represented 8.2%. This marks a rise from 6.8% of total closings a year earlier. Closings of new and existing homes declined year-over-year in April after also falling in March year-over-year.
Pricing and Mortgage Trends
The average price of new homes grew year-over-year in April to $294,336 per unit, a rise of 8.0%. This gain is smaller than the 20.4% boost in March year-over-year.
There was a surge year-over-year in the average mortgage size on new homes along with new home prices. Average mortgage size grew 16.4% to $234,743 in April from a year earlier. In March 2014, average mortgage size increased 18.6% from a year earlier.