Cape Coral New Home Sales Climb According to Freshest Numbers
Posted on: Aug 08, 2014 11:12:20 AM
In May, closings of new homes in the Cape Coral, FL market grew year-over-year, but the market seemed to show signs of stabilizing as the percentage climbed was less than in April 2014. New home closings saw a boost of 26.5% from the year earlier to 191. This came after a 37.4% jump year-over-year in April.
A total of 2,221 new homes were sold during the 12 months that ended in May, up from 2,181 for the year that ended in April.
New home closings accounted for 7.0% of overall housing closings. This is an increase on a percentage basis, as new home closings were 5.2% of total closings a year ago. After rising year-over-year in April, closings of new and existing homes declined year-over-year in May.
Pricing and Mortgage Trends
The average value for new homes sold in May 2014 was $329,926, a move from $332,622 a year earlier. This came after a 5.0% hike in April year-over-year.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. It fell 8.5% in May from a year earlier to $223,619. In April 2014, average mortgage size increased 2.6% from a year earlier.