Latest Numbers For Port St. Lucie Show New Home Closings and Prices Rise
Posted on: Mar 06, 2014 07:33:39 AM
New home closings jumped year-over-year in December in the Port St. Lucie, FL market, but the percentage gain was less pronounced than November 2013, indicating the market may be evening out. New home closings saw a 43.9% boost from a year earlier to 95. In comparison, new home closings in the same month last year saw a more than twofold climb year-over-year in November.
A total of 591 new homes were sold during the 12 months that ended in December, up from 562 for the year that ended in November.
As a percentage of overall housing closings, new home closings represented 8.1%. This marks a rise from 5.9% of total closings a year earlier. For new and existing homes, closings jumped year-over-year in December after also increasing in November year-over-year.
Pricing and Mortgage Trends
For newly sold homes, the average price gained 13.8% year-over-year in December to $349,043 per unit. This gain is better than the 6.7% surge in November year-over-year.
For newly sold homes, the average mortgage size rose year-over-year along with new home prices. The average mortgage size rose to $256,566 in December, marking a 2.7% surge compared with a year earlier. In November 2013, average mortgage size climbed 6.2% from a year earlier.