New Home Closings in Gainesville Rise, Prices Fall According to Freshest Figures
Posted on: Feb 12, 2014 07:07:57 AM
In the Gainesville, FL market, new home closings jumped year-over-year in November, but the percentage surge, which was less than October 2013, seemed to suggest market leveling. New home closings saw a 4.8% jump from a year earlier to 22. This was after the housing market saw a 20.8% hike year-over-year in October.
A total of 309 new homes were sold during the 12 months that ended in November, up from 308 for the year that ended in October.
New home closings were 8.1% of total number of closings, same as last year. Following a year-over-year increase in October, closings of new and existing homes also climbed year-over-year in November.
Pricing and Mortgage Trends
In November, the average per-unit price of new homes fell by 9.2% year-over-year to $211,427. This drop compares to a 29.8% boost in October year-over-year.
In November 2013, average mortgage size on newly sold homes moved from $207,339 to $205,867 from November 2012. In October 2013, average mortgage size jumped 8.0% from a year earlier.