Freshest Numbers For Port St. Lucie Show New Home Closings and Prices Climb
Posted on: Dec 06, 2013 07:37:09 AM
There was an increase in new home closings in the Port St. Lucie, FL market in September year-over-year, but with a rise less sharp than August 2013, there were suggestions the market may be leveling out. There was a more than twofold climb in new home closings from a year earlier. In comparison, new home closings in the same month last year saw a more than twofold jump year-over-year in August.
A total of 500 new homes were sold during the 12 months that ended in September, up from 458 for the year that ended in August.
Out of all housing closings, new home closings accounted for 6.3%. This marks a rise from 3.0% of total closings a year earlier. For new and existing homes, closings climbed year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $310,801 per unit in September, up 24.8%from a year earlier. This hike is an improvement over the 10.0% bump in August year-over-year.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In September 2013, there was a 23.5% hike in the average mortgage size, reaching $239,674. In August 2013, average mortgage size on newly sold homes saw a 7.8% hike year-over-year from a year earlier.