New Home Closings and Prices in Ocala Decline According to Freshest Figures
Posted on: Aug 08, 2014 11:39:43 AM
In the Ocala, FL market, closings of new homes sank year-over-year in May, but the decline was less than the year-over-year decline in April. New home closings moved from 26 a year earlier to 20 after the figure moved from 27 in April 2013 to 12 in April 2014.
A total of 268 new homes were sold during the 12 months that ended in May, down from 274 for the year that ended in April.
New home closings made up 2.5% of overall housing closings. This is down from the 3.6% of closings a year earlier. For new and existing homes, closings gained year-over-year in May after also increasing in April year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had a 25.8% fall year-over-year to $224,936 per unit in May. This decline compares to a 85.7% hike in April year-over-year.
For newly sold homes, the average mortgage size saw a bump year-over-year in contrast to new home prices. In May 2014, the average mortgage size was $147,556, a 4.2% gain from a year earlier. Average mortgage size on new homes went from $185,444 in April 2013 to $166,951 in April 2014.