Recent Numbers For Naples Show New Home Closings and Prices Increase
Posted on: Jul 06, 2014 07:25:27 AM
In April, closings of new homes in the Naples, FL market gained year-over-year, and the percentage gain was greater than March 2014, giving hints of improving market conditions. New home closings saw a jump of 60.9% from the year earlier to 177. This was after the housing market saw a 14.3% rise year-over-year in March.
A total of 1,859 new homes were sold during the 12 months that ended in April, up from 1,792 for the year that ended in March.
Of 1,918 total closings, 177 were of new homes. This is an increase on a percentage basis, as new home closings were 5.9% of total closings a year ago. For new and existing homes, closings gained year-over-year in April after also increasing in March year-over-year.
Pricing and Mortgage Trends
The average price of newly sold homes grew year-over-year 14.5% in April to $541,041 per unit. This surge is better than the 7.8% gain in March year-over-year.
The average mortgage size on new homes moved north year-over-year along with new home prices. It climbed 22.8% in April from a year earlier to $360,682. Average mortgage size grew 24.9% in March 2014 from a year earlier.