Recent Figures Show New Home Sales and Prices Rise in Cape Coral
Posted on: Nov 12, 2013 07:07:00 AM
In August, there was an increase in closings of new homes in the Cape Coral, FL market year-over-year, but as the percentage jumped less than July 2013, the market seemed to show signs of leveling. Closings gained 30.9% from a year earlier to 195. This came on the heels of a 46.3% rise year-over-year in July.
A total of 1,789 new homes were sold during the 12 months that ended in August, up from 1,743 for the year that ended in July.
Out of all housing closings, new home closings accounted for 8.3%. This is better than the 7.1% of closings a year earlier. Closings of new and existing homes increased year-over-year in August after also rising in July year-over-year.
Pricing and Mortgage Trends
The average price of new homes climbed year-over-year 25.3% in August to $311,351 per unit. This gain is an improvement over the 13.3% hike in July year-over-year.
Average mortgage size on new homes jumped year-over-year along with new home prices. Average mortgage size jumped 16.2% to $213,337 in August from a year earlier. In July 2013, average mortgage size increased 21.2% from a year earlier.