Recent Figures Show New Home Sales and Prices Climb in Jacksonville
Posted on: Jul 06, 2014 07:17:16 AM
Closings of new homes increased year-over-year in April in the Jacksonville, FL market, but with a less pronounced percentage gain than March 2014, there are suggestions of market stabilization. Closings increased 14.9% from a year earlier to 409. This was after the housing market saw a 26.2% hike year-over-year in March.
A total of 4,771 new homes were sold during the 12 months that ended in April, up from 4,718 for the year that ended in March.
Of 3,140 total closings, 409 were of new homes. This marks a rise from 11.3% of total closings a year earlier. Closings of new and existing homes remained steady in April after rising in March year-over-year.
Pricing and Mortgage Trends
In April, the average price of newly sold homes climbed 15.7% year-over-year to $289,179 per unit. This surge is better than the 13.9% lift in March year-over-year.
For newly sold homes, the average mortgage size rose year-over-year along with new home prices. In April 2014, there was a 11.8% boost in the average mortgage size, reaching $244,671. In March 2014, average mortgage size on newly sold homes saw a 9.3% bump year-over-year from a year earlier.