New Home Closings and Prices in Cape Coral Gain According to Newest Figures
Posted on: Mar 06, 2014 07:06:30 AM
New home closings in the Cape Coral, FL market rose year-over-year in December, but with a less pronounced percentage surge than November 2013, there are signs of market stabilization. New home closings saw a climb of 14.9% from the year earlier to 200. This came after a 19.2% climb year-over-year in November.
A total of 2,002 new homes were sold during the 12 months that ended in December, up from 1,976 for the year that ended in November.
As a percentage of overall housing closings, new home closings accounted for 9.4%. This marks a rise from 7.6% of total closings a year earlier. After remaining steady in November from a year earlier, closings of new and existing homes slid year-over-year in December.
Pricing and Mortgage Trends
The average price of new homes gained year-over-year in December to $346,294 per unit, a rise of 17.2%. This surge is higher than the 11.7% bump in November year-over-year.
There was a rise year-over-year in the average mortgage size on new homes along with new home prices. The average mortgage size rose to $233,032 in December, marking a 11.6% surge compared with a year earlier. In November 2013, average mortgage size gained 10.2% from a year earlier.