New Home Prices Increase in Fort Walton Beach According to Recent Figures, Sales Decrease
Posted on: Apr 06, 2014 07:14:54 AM
New home closings dropped year-over-year in January in the Fort Walton Beach, FL market, and with a percentage drop steeper than December 2013, there were hints the market may be worsening. Closings slumped 41.4% from a year earlier to 17. This came after a 4.3% decline year-over-year in December.
A total of 297 new homes were sold during the 12 months that ended in January, down from 309 for the year that ended in December.
New home closings represented 4.4% of overall housing closings. This is a decline 7.8% of closings a year earlier. After staying stable in December from a year earlier, closings of new and existing homes jumped in January.
Pricing and Mortgage Trends
The average price of new homes increased year-over-year in January to $254,598 per unit, a rise of 16.6%. This surge compares to a period of little change in December from a year earlier.
Average mortgage size on new homes declined year-over-year in contrast to new home prices. In January 2014, average mortgage size dropped 6.0% from a year earlier to $235,368. In December 2013, average mortgage size declined 3.2% from a year earlier.