Newest Figures Show New Home Sales and Prices Decrease in Jacksonville
Posted on: Jul 06, 2014 07:17:24 AM
In the Jacksonville, NC market, closings of new homes sank year-over-year in April, but the drop in percentage terms was not as steep as March 2014, signaling market improvement. Closings declined 33.9% from a year earlier to 84. In comparison, new home closings in the same month last year saw a 41.1% decline year-over-year in March.
A total of 1,048 new homes were sold during the 12 months that ended in April, down from 1,091 for the year that ended in March.
Out of all housing closings, new home closings accounted for 24.9%. This is down from the 34.3% of closings a year earlier. Following a year-over-year rise in March, closings of new and existing homes sank year-over-year in April.
Pricing and Mortgage Trends
In April, the average price for new home closings was $195,769, a 2.5% fall from last year. This drop is larger than the 1.1% fall in March from a year earlier.
For newly sold homes, the average mortgage size dropped year-over-year in contrast to average price of new homes. In April 2014, there was a 2.1% decline in the average mortgage size on new homes to $194,568. Average mortgage size rose 2.8% in March 2014 from a year earlier.