New Home Closings and Prices in Pensacola Increase According to Latest Figures
Posted on: Feb 11, 2014 07:29:09 AM
In the Pensacola, FL market in November, closings of new homes grew year-over-year, moving north after a drop in October 2013. There was a 79.2% jump in new home closings from a year earlier. In comparison, new home closings in the same month last year saw a 17.7% decline year-over-year in October.
A total of 1,037 new homes were sold during the 12 months that ended in November, up from 995 for the year that ended in October.
Out of all housing closings, new home closings accounted for 12.1%. This is a gain from 8.6% of closings a year earlier. Closings of new and existing homes climbed year-over-year in November after also rising in October year-over-year.
Pricing and Mortgage Trends
The average price of new homes gained year-over-year 9.3% in November to $205,830 per unit. This rise is smaller than the 23.0% surge in October year-over-year.
In November 2013, average mortgage size on newly sold homes moved from $179,970 to $180,462 from November 2012. In October 2013, average mortgage size on newly sold homes saw a 21.5% hike year-over-year from a year earlier.