Newest Numbers For Orlando Show New Home Closings and Prices Rise
Posted on: Jul 06, 2014 07:27:15 AM
In the Orlando, FL market, new home closings gained year-over-year in April, but there were signs of market leveling as the percentage rise was less than March 2014. New home closings saw a 16.8% jump from a year earlier to 654. In comparison, new home closings in the same month last year saw a 27.5% rise year-over-year in March.
A total of 7,855 new homes were sold during the 12 months that ended in April, up from 7,761 for the year that ended in March.
Out of all housing closings, new home closings made up 12.0%. This is better than the 10.3% of closings a year earlier. Closings of new and existing homes stayed level after increasing in March year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes jumped year-over-year to $306,829 in April, up 19.5% from last year. This boost is an improvement over the 18.5% hike in March year-over-year.
The average mortgage size on newly sold homes increased year-over-year along with the average price of new homes. It jumped 20.3% in April from a year earlier to $252,746. In March 2014, average mortgage size gained 14.0% from a year earlier.