New Home Closings and Prices in Jacksonville Rise According to Newest Figures
Posted on: Dec 06, 2013 07:22:52 AM
Closings of new homes rose year-over-year in September in the Jacksonville, FL market, and with a stronger lift in comparison with August 2013, the market seems to be strengthening. New home closings saw a boost of 46.7% from the year earlier to 424. This came after a 12.3% rise year-over-year in August.
A total of 4,161 new homes were sold during the 12 months that ended in September, up from 4,026 for the year that ended in August.
Out of all housing closings, new home closings made up 11.9%. A year earlier, new home closings accounted for 11.6% of total closings. Following a year-over-year increase in August, closings of new and existing homes also increased year-over-year in September.
Pricing and Mortgage Trends
Average price of newly sold homes saw a 11.4% rise year-over-year in September to $260,327 per unit. This bump is higher than the 9.2% rise in August year-over-year.
For newly sold homes, the average mortgage size saw a boost year-over-year along with new home prices. In September 2013, there was a 5.3% bump in the average mortgage size, reaching $220,383. In August 2013, average mortgage size jumped 10.1% from a year earlier.