Freshest Numbers For Jacksonville Show New Home Closings and Prices Rise
Posted on: May 06, 2013 07:17:26 AM
Closings of new homes increased year-over-year in February in the Jacksonville, FL market, but with a rise less sharp than January 2013, there were suggestions the market may be evening out. New home closings saw a 44.1% rise from a year earlier to 304. In comparison, new home closings in the same month last year saw a 45.2% jump year-over-year in January.
A total of 3,601 new homes were sold during the 12 months that ended in February, up from 3,508 for the year that ended in January.
Of 1,974 total closings, 304 were of new homes. This marks a rise from 11.7% of total closings a year earlier. Following a year-over-year increase in January, closings of new and existing homes also rose year-over-year in February.
Pricing and Mortgage Trends
The average price of new homes was $239,052 per unit in February, up 4.8%from a year earlier. This rise is an improvement over the 1.8% rise in January year-over-year.
There was a rise year-over-year in the average mortgage size on new homes along with new home prices. In February 2013, the average mortgage size was $211,811, up 3.7% from a year earlier. In January 2013, average mortgage size increased 1.9% from a year earlier. For new home closings, the percentage of the sale price that was being financed slipped 1.0 percentage points year-over-year to 88.6% in February 2013. This comes after the figure remained relatively unchanged at 87.1% in January 2013.