New Home Closings and Prices in Pensacola Climb According to Newest Figures
Posted on: Apr 06, 2014 07:32:27 AM
In January, closings of new homes in the Pensacola, FL market climbed year-over-year, rallying back from a decline in December 2013. New home closings saw a boost of 3.7% from the year earlier to 56. This came on the heels of a 6.5% drop year-over-year in December.
A total of 1,029 new homes were sold during the 12 months that ended in January, up from 1,027 for the year that ended in December.
Out of all housing closings, new home closings represented 8.7%. A year earlier, new home closings represented 8.5% of total closings. After rising in December from a year earlier, closings of new and existing homes stayed steady in January.
Pricing and Mortgage Trends
The average price of new homes grew year-over-year in January to $240,509 per unit, a rise of 22.1%. This lift is an improvement over the 5.6% hike in December year-over-year.
For newly sold homes, the average mortgage size grew year-over-year along with new home prices. The average mortgage size saw a 28.3% rise year-over-year to $224,739 in January. In December 2013, average mortgage size on newly sold homes saw a 5.9% gain year-over-year from a year earlier.