New Home Prices Gain in Jacksonville According to Newest Figures, Sales Fall
Posted on: Aug 08, 2014 11:28:10 AM
In the Jacksonville, FL market, new home closings sank year-over-year in May, moving south after a rise in April 2014. There was a change in new home closings from 428 a year earlier to 427 in May 2014. This came on the heels of a 12.6% jump in April from the year earlier.
A total of 4,725 new homes were sold during the 12 months that ended in May, down from 4,726 for the year that ended in April.
New home closings made up 12.7% of overall housing closings. A year earlier, new home closings accounted for 11.9% of total closings. Following a year-over-year rise in April, closings of new and existing homes slid year-over-year in May.
Pricing and Mortgage Trends
For newly sold homes, the average price climbed 11.7% year-over-year in May to $270,974 per unit. This surge is smaller than the 14.3% boost in April year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. It climbed 10.4% in May from a year earlier to $233,387. In April 2014, average mortgage size grew 10.9% from a year earlier.