New Home Prices Climb in Gainesville According to Newest Figures, Sales Fall
Posted on: Apr 06, 2014 07:15:21 AM
New home closings in the Gainesville, FL market dropped year-over-year in January, a downhill move after a gain in December 2013. New home closings saw a drop of 9.4% from the year earlier to 29. This came on the heels of a 20.0% rise year-over-year in December.
A total of 314 new homes were sold during the 12 months that ended in January, down from 317 for the year that ended in December.
New home closings represented 12.5% of overall housing closings. This is a hike from 10.0% of closings a year earlier. After rising year-over-year in December, closings of new and existing homes dropped year-over-year in January.
Pricing and Mortgage Trends
The average price of newly sold homes increased year-over-year 29.8% in January to $259,331 per unit. This gain is better than the 16.9% lift in December year-over-year.
The average mortgage size on newly sold homes rose year-over-year along with the average price of new homes. It gained 18.9% in January from a year earlier to $221,583. Average mortgage size jumped 29.5% in December 2013 from a year earlier.