New Home Sales and Prices Both Rise in Cape Coral According to Freshest Data
Posted on: Apr 06, 2014 07:06:32 AM
In January, there was an increase in closings of new homes in the Cape Coral, FL market year-over-year, and the market seemed to be signaling bolstering with a percentage hike stronger than December 2013. New home closings saw a climb of 31.5% from the year earlier to 146. This came on the heels of a 16.3% rise year-over-year in December.
A total of 2,033 new homes were sold during the 12 months that ended in January, up from 1,998 for the year that ended in December.
New home closings represented 7.9% of overall housing closings. This is better than the 5.4% of closings a year earlier. Following a year-over-year decline in December, closings of new and existing homes also dropped year-over-year in January.
Pricing and Mortgage Trends
The average price of new homes grew year-over-year in January to $341,621 per unit, a rise of 29.6%. This surge is better than the 17.5% boost in December year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In January 2014, the average mortgage size was $250,793, a 29.5% surge from a year earlier. In December 2013, average mortgage size on newly sold homes saw a 12.5% gain year-over-year from a year earlier.