Recent Numbers For Naples Show New Home Closings and Prices Gain
Posted on: Apr 06, 2014 07:29:09 AM
There was a rise in new home closings in the Naples, FL market in January year-over-year, and the percentage gain, which was better than December 2013, suggested the market may be improving. Closings gained 50.6% from a year earlier to 116. In comparison, new home closings in the same month last year saw a 23.2% boost year-over-year in December.
A total of 1,731 new homes were sold during the 12 months that ended in January, up from 1,692 for the year that ended in December.
Of 1,149 total closings, 116 were of new homes. This is an increase on a percentage basis, as new home closings were 6.6% of total closings a year ago. Closings of new and existing homes stayed level after increasing in December year-over-year.
Pricing and Mortgage Trends
In January, there was a 15.7% hike year-over-year in the average price of newly sold homes, reaching $538,302 per unit. This hike is better than the 6.5% rise in December year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In January 2014, the average mortgage size was $345,857, up 29.6% from a year earlier. In December 2013, average mortgage size jumped 3.0% from a year earlier.