Latest Figures Show New Home Prices Increase, Sales Decrease in Pensacola
Posted on: Jul 06, 2014 07:28:11 AM
New home closings in the Pensacola, FL market dropped year-over-year in April, drawing a downward slope off of a rise in March 2014. Closings slid 15.6% from a year earlier to 76. This came on the heels of a 14.9% jump year-over-year in March.
A total of 1,028 new homes were sold during the 12 months that ended in April, down from 1,042 for the year that ended in March.
Out of all housing closings, new home closings made up 9.8%. This is down from the 11.3% of closings a year earlier. After rising year-over-year in March, closings of new and existing homes dropped year-over-year in April.
Pricing and Mortgage Trends
Average price of newly sold homes had a 10.1% hike year-over-year to $204,988 per unit in April. This bump follows a move from $199,841 per unit in March 2013 to $200,459 in March 2014.
Average mortgage size on new homes gained year-over-year along with new home prices. In April 2014, the average mortgage size on newly sold homes saw a 14.9% rise from a year earlier. Average mortgage size jumped 1.6% in March 2014 from a year earlier.