Latest Figures Show New Home Sales Rise, Prices Stay Level in Naples
Posted on: Sep 11, 2014 07:24:09 AM
In June, closings of new homes rose year-over-year in the Naples, FL market, but with a less pronounced percentage boost than May 2014, there are hints of market stabilization. New home closings saw a 6.3% boost from a year earlier to 152. In comparison, new home closings in the same month last year saw a 17.0% rise year-over-year in May.
A total of 1,815 new homes were sold during the 12 months that ended in June, up from 1,806 for the year that ended in May.
As a percentage of overall housing closings, new home closings made up 10.0% of overall housing closings. New home closings were 9.6% of overall closings last year. After dropping in May from a year earlier, closings of new and existing homes rose year-over-year in June.
Pricing and Mortgage Trends
In June, there was no change year-over-year in the average price of new homes as it remained at $544,212 per unit. This comes after a 24.8% lift in May year-over-year.
There was a gain year-over-year in the average mortgage size on new homes in contrast to new home prices. In June 2014, the average mortgage size on newly sold homes saw a 11.5% hike from a year earlier. Average mortgage size grew 26.6% in May 2014 from a year earlier.