Newest Numbers For Lakeland Show New Home Closings Rise
Posted on: Dec 06, 2013 07:25:13 AM
The Lakeland, FL market saw a rise in new home closings in September year-over-year, and the percentage rise that was sharper than August 2013 seems to indicate improving market conditions. New home closings saw a 98.7% jump from a year earlier to 149. This came after a 12.0% hike year-over-year in August.
A total of 1,202 new homes were sold during the 12 months that ended in September, up from 1,128 for the year that ended in August.
Of 1,068 total closings, 149 were of new homes. This is an increase on a percentage basis, as new home closings were 8.8% of total closings a year ago. Following a year-over-year increase in August, closings of new and existing homes also grew year-over-year in September.
Pricing and Mortgage Trends
The average value of newly sold homes moved to $180,722 in September 2013 from $179,503 in September 2012. This followed a 6.2% bump in August year-over-year.
There was a surge year-over-year in the average mortgage size on new homes along with new home prices. In September 2013, the average mortgage size was $159,974, a 4.1% rise from a year earlier. In August 2013, average mortgage size increased 11.5% from a year earlier.