Newest Figures Show New Home Sales and Prices Increase in Cape Coral
Posted on: Jul 06, 2014 07:05:26 AM
In the Cape Coral, FL market in April, closings of new homes gained year-over-year, and the market seemed to be hinting at strengthening with a percentage surge more robust than March 2014. Closings increased 44.2% from a year earlier to 212. This came on the heels of a 36.5% climb year-over-year in March.
A total of 2,215 new homes were sold during the 12 months that ended in April, up from 2,150 for the year that ended in March.
As a percentage of overall housing closings, new home closings represented 7.3%. This is a surge from 5.1% of closings a year earlier. Closings of new and existing homes remained steady in April after rising in March year-over-year.
Pricing and Mortgage Trends
In April, the average value of new homes saw a 3.1% rise year-over-year as it grew to $320,997 per unit. This hike is smaller than the 35.0% gain in March year-over-year.
For newly sold homes, average mortgage size moved from $233,645 in April 2013 to $231,770 in April 2014. Average mortgage size grew 18.9% in March 2014 from a year earlier.