New Home Sales and Prices Both Gain in Port St. Lucie According to Newest Data
Posted on: Jul 06, 2014 07:28:52 AM
Closings of new homes rose year-over-year in April in the Port St. Lucie, FL market, but the percentage surge was less pronounced than March 2014, indicating the market may be evening out. New home closings saw a 31.2% rise from a year earlier to 63. This came after a more than twofold rise year-over-year in March.
A total of 703 new homes were sold during the 12 months that ended in April, up from 688 for the year that ended in March.
As a percentage of overall housing closings, new home closings made up 4.2%. This is an increase on a percentage basis, as new home closings were 3.1% of total closings a year ago. Closings of new and existing homes saw a drop year-over-year in April after remaining steady in March year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had a 20.3% gain year-over-year to $323,544 per unit in April. This bump is better than the 8.3% hike in March year-over-year.
For newly sold homes, the average mortgage size gained year-over-year along with new home prices. In April 2014, the average mortgage size was $236,698, up 3.6% from a year earlier. In March 2014, average mortgage size rose 24.1% from a year earlier.