New Home Prices Increase in Fort Walton Beach According to Recent Figures, Sales Drop
Posted on: Aug 08, 2014 11:22:25 AM
New home closings declined year-over-year in May in the Fort Walton Beach, FL market, and the decline was by a larger percentage than the April 2014. New home closings moved from 21 a year earlier to 8 after the figure moved from 27 in April 2013 to 12 in April 2014.
A total of 190 new homes were sold during the 12 months that ended in May, down from 203 for the year that ended in April.
New home closings were 8 out of the 456 total closings, down on a percentage basis from 21 of 536 a year earlier. For new and existing homes, closings declined in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $401,445, an increase from $246,150 a year earlier. This followed a 14.7% gain in April year-over-year.
Average mortgage size on new homes rose from $260,440 to $321,569. Average mortgage size on new homes went from $244,284 in April 2013 to $262,871 in April 2014.