Freshest Numbers Show Prices of New Homes Increase in Cape Coral, Sales Fall
Posted on: May 06, 2013 07:05:35 AM
In February, the Cape Coral, FL market saw a decline year-over-year in new home closings, shifting downward off a lift in January 2013. Closings moved to 103 in February 2013 from 104 a year earlier. This came after a 54.9% climb in January from the year earlier.
A total of 1,519 new homes were sold during the 12 months that ended in February, down from 1,520 for the year that ended in January.
Of the total number of closings, new home closings made up 6.2%. As a part of the whole, new home closings were 5.5% a year earlier. After rising year-over-year in January, closings of new and existing homes declined year-over-year in February.
Pricing and Mortgage Trends
The average per-unit price of new homes rose in February to $287,167, up by 1.6% from a year earlier. This is a swing up from a 10.8% decline in January from a year earlier.
For newly sold homes, the average mortgage size increased year-over-year along with new home prices. Average mortgage size rose 7.3% to $205,351 in February from a year earlier. In January 2013, average mortgage size on newly sold homes saw a 6.0% decline from a year earlier. Of the overall sale price, the percentage that was being financed increased 3.8 percentage points year-over-year to 71.5% in February 2013. This was another rise after January 2013 when there was a 3.7 percentage point rise from a year earlier.