Prices of New Homes Gain in Bradenton, Sales Drop According to Newest Data
Posted on: Aug 08, 2014 11:39:23 AM
Closings of new homes dropped year-over-year in May in the Bradenton, FL market, curving down after an increase in April 2014. New home closings saw a 42.4% fall from a year earlier to 132. In comparison, new home closings in the same month last year saw a 11.8% rise year-over-year in April.
A total of 3,113 new homes were sold during the 12 months that ended in May, down from 3,210 for the year that ended in April.
As a percentage of overall housing closings, new home closings accounted for 5.1%. This is down from the a year earlier when new home closings made up 7.7% of total closings. For new and existing homes, closings slid in May after also declining in April year-over-year.
Pricing and Mortgage Trends
In May, the average value of new homes saw a 20.9% bump year-over-year as it grew to $311,988 per unit. This rise is better than the 7.0% surge in April year-over-year.
For newly sold homes, the average mortgage size saw a lift year-over-year along with new home prices. The average mortgage size rose to $222,743 in May, marking a 13.6% lift compared with a year earlier. Average mortgage size gained 15.4% in April 2014 from a year earlier.