Latest Numbers For Port St. Lucie Show New Home Closings and Prices Increase
Posted on: Aug 08, 2014 11:42:43 AM
In the Port St. Lucie, FL market in May, new home closings gained year-over-year, and there were signals of strengthening market conditions as the percentage gain was an greater than April 2014. Closings gained 96.7% from a year earlier to 59. This came after a 2.1% rise year-over-year in April.
A total of 626 new homes were sold during the 12 months that ended in May, up from 597 for the year that ended in April.
New home closings accounted for 3.9% of overall housing closings. This is a surge from 2.2% of closings a year earlier. Closings of new and existing homes increased year-over-year in May after also rising in April year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose year-over-year in May to $330,058 per unit, a rise of 7.3%. This boost is smaller than the 33.2% lift in April year-over-year.
Average mortgage size on new homes climbed year-over-year along with new home prices. The average mortgage size saw a 11.5% surge year-over-year to $261,058 in May. In April 2014, average mortgage size gained 12.7% from a year earlier.