New Home Sales and Prices Both Rise in Pensacola According to Newest Data
Posted on: Dec 06, 2013 07:36:03 AM
New home closings in the Pensacola, FL market grew year-over-year in September, but with an increase less steep than that of August 2013, the market seemed to be showing signs of evening out. There was a 30.0% rise in new home closings from a year earlier. This was after the housing market saw a 36.0% jump year-over-year in August.
A total of 1,010 new homes were sold during the 12 months that ended in September, up from 989 for the year that ended in August.
As a percentage of overall housing closings, new home closings accounted for 10.6% of overall housing closings. A year ago, 11.3% of total closings were new home closings. For new and existing homes, closings grew year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes increased year-over-year to $203,934 in September, up 5.5% from last year. This rise is smaller than the 6.7% boost in August 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 September 2013, the average mortgage size on newly sold homes saw a 2.7% hike from a year earlier. In August 2013, average mortgage size grew 3.0% from a year earlier.