New Home Sales and Prices Both Climb in Naples According to Recent Data
Posted on: Dec 06, 2013 07:32:40 AM
New home closings in the Naples, FL market gained year-over-year in September, and there were signals that the market may be improving as the percentage surge was better than August 2013. Closings rose 98.7% from a year earlier to 149. This came after a 61.1% hike year-over-year in August.
A total of 1,574 new homes were sold during the 12 months that ended in September, up from 1,500 for the year that ended in August.
As a percentage of overall housing closings, new home closings made up 12.1%. This is a hike from 7.5% of closings a year earlier. Following a year-over-year increase in August, closings of new and existing homes also rose year-over-year in September.
Pricing and Mortgage Trends
In September, the average value of new homes saw a 15.2% gain year-over-year as it grew to $498,759 per unit. This rise compares to a 3.0% decline in August from a year earlier.
The average mortgage size on newly sold homes saw a gain year-over-year along with new home prices. It gained to $291,099 in September, a 5.4% hike. Average mortgage size sank 4.7% in August 2013 from a year earlier.