New Home Sales and Prices Both Climb in Pensacola According to Latest Data
Posted on: Nov 12, 2013 07:36:03 AM
New home closings gained year-over-year in August in the Pensacola, FL market, and the percentage hike was an improvement from July 2013, suggesting the market may be gaining momentum. New home closings saw a climb of 36.0% from the year earlier to 102. This was after the housing market saw a 10.2% climb year-over-year in July.
A total of 983 new homes were sold during the 12 months that ended in August, up from 956 for the year that ended in July.
As a percentage of overall housing closings, new home closings represented 10.4% of overall housing closings. New home closings were 10.9% of overall closings last year. For new and existing homes, closings climbed year-over-year in August after also increasing in July year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes increased year-over-year to $202,563 in August, up 6.7% from last year. This rise is smaller than the 9.0% hike in July 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 August 2013, the average mortgage size was $183,180, a 3.0% surge from a year earlier. In July 2013, average mortgage size on newly sold homes saw a 7.0% boost year-over-year from a year earlier.