New Home Closings and Prices in Jacksonville Decline According to Newest Figures
Posted on: Aug 08, 2014 11:28:21 AM
In the Jacksonville, NC market in May, closings of new homes dropped year-over-year, and the decline was by a larger percentage than the April 2014. New home closings moved from 103 a year earlier to 9 after the figure moved from 116 in April 2013 to 13 in April 2014.
A total of 381 new homes were sold during the 12 months that ended in May, down from 475 for the year that ended in April.
New home closings were 30.8% of total closings a year earlier, and this percentage saw a decline as new home closings this year made up 9 of the 295 total closings. Following a year-over-year decline in April, closings of new and existing homes also fell year-over-year in May.
Pricing and Mortgage Trends
The average new home price was $180,556, down from $187,679 a year earlier. This was on the heels of a 2.6% drop in April from a year earlier.
Average mortgage size on new homes stayed at $186,298 from a year earlier. Average mortgage size on new homes went from $198,839 in April 2013 to $193,707 in April 2014.