Freshest Figures Show New Home Prices Gain, Sales Decline in Bradenton
Posted on: Mar 07, 2013 07:04:47 AM
Closings of new homes fell year-over-year in December in the Bradenton, FL market, shifting downward off a hike in November 2012. New home closings saw a decline of 27.4% from the year earlier to 146 after closings rose 20.4% in November from the year earlier.
A total of 2,193 new homes were sold during the 12 months that ended in December, down from 2,248 for the year that ended in November.
New home closings accounted for 8.9% of overall housing closings, down from the 11.2% of closings a year earlier. Following a year-over-year rise in November, closings of new and existing homes dipped year-over-year in December.
Pricing and Mortgage Trends
Average price of newly sold homes had a 3.2% rise year-over-year to $247,733 per unit in December. This rise is smaller than the 8.1% rise in November year-over-year.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. In December 2012, there was a 4.1% decline in the average mortgage size on new homes to $194,862. In November 2012, average mortgage size on newly sold homes saw a 5.6% rise year-over-year from a year earlier. Of the overall sale price, the percentage that was being financed fell 5.9 percentage points year-over-year to 78.7% in December 2012.