Prices of New Homes Gain in Jacksonville, Sales Decline According to Newest Data
Posted on: May 06, 2013 07:17:34 AM
The Jacksonville, NC market saw a drop in new home closings year-over-year in February, and the percentage drop was steeper than January 2013. New home closings saw a drop of 49.3% from the year earlier to 75 after closings slid 23.6% in January from the year earlier.
A total of 1,448 new homes were sold during the 12 months that ended in February, down from 1,521 for the year that ended in January.
New home closings as a percentage of overall housing closings fell to 34.4% from 49.3% of closings a year earlier. Closings of new and existing homes dropped year-over-year in February after also falling in January year-over-year.
Pricing and Mortgage Trends
In February, the average value of new homes saw a 4.0% rise year-over-year as it grew to $188,647 per unit. This rise is better than the 3.7% rise in January year-over-year.
The average mortgage size on newly sold homes saw a rise year-over-year along with new home prices. In February 2013, the average mortgage size was $189,771, a 3.5% rise from a year earlier. Average mortgage size increased 4.0% in January 2013 from a year earlier.