New Home Sales and Prices Both Climb in Jacksonville According to Newest Data
Posted on: Apr 06, 2014 07:20:04 AM
In January, closings of new homes grew year-over-year in the Jacksonville, FL market, but there were signs of market leveling as the percentage bump was less than December 2013. There was a 25.1% climb in new home closings from a year earlier. This came after a 26.8% hike year-over-year in December.
A total of 4,469 new homes were sold during the 12 months that ended in January, up from 4,405 for the year that ended in December.
Of the total number of closings, new home closings made up 10.4%. A year ago, new home closings made up 10.1%. Closings of new and existing homes climbed year-over-year in January after also rising in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes grew year-over-year in January to $263,596 per unit, a rise of 5.6%. This hike is smaller than the 6.2% surge 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. The average mortgage size rose to $227,360 in January, marking a 4.9% gain compared with a year earlier. In December 2013, average mortgage size grew 2.5% from a year earlier.