New Home Sales and Prices Both Climb in Port St. Lucie According to Recent Data
Posted on: Apr 06, 2014 07:33:26 AM
Closings of new homes rose year-over-year in January in the Port St. Lucie, FL market, and with a more robust rise than December 2013, there are signs the market may be strengthening. New home closings saw a climb of 90.5% from the year earlier to 40. This came on the heels of a 43.9% rise year-over-year in December.
A total of 611 new homes were sold during the 12 months that ended in January, up from 592 for the year that ended in December.
Out of all housing closings, new home closings accounted for 3.5%. This is better than the 2.2% of closings a year earlier. For new and existing homes, closings climbed year-over-year in January after also increasing in December year-over-year.
Pricing and Mortgage Trends
In January, there was a 14.3% gain year-over-year in the average price of newly sold homes, reaching $270,575 per unit. This gain is an improvement over the 13.8% surge in December year-over-year.
For newly sold homes, the average mortgage size saw a lift year-over-year along with new home prices. In January 2014, the average mortgage size on newly sold homes saw a 3.5% gain from a year earlier. In December 2013, average mortgage size rose 2.7% from a year earlier.