New Home Prices Increase in Punta Gorda According to Newest Figures, Sales Fall
Posted on: Dec 06, 2013 07:38:31 AM
The Punta Gorda, FL market saw a drop in new home closings year-over-year in September, but the decline was less than the year-over-year decline in August. New home closings moved from 20 a year earlier to 18 after the figure moved from 14 in August 2012 to 11 in August 2013.
A total of 299 new homes were sold during the 12 months that ended in September, down from 301 for the year that ended in August.
Out of all housing closings, new home closings accounted for 3.5%. This is a fall 5.0% of closings a year earlier. For new and existing homes, closings rose year-over-year in September after also increasing in August year-over-year.
Pricing and Mortgage Trends
Average price of newly sold homes had a 13.0% surge year-over-year to $202,241 per unit in September. This bump compares to a 5.5% drop in August from a year earlier.
Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. It increased to $170,982 in September, a 36.5% bump. Average mortgage size on new homes went from $142,043 in August 2012 to $124,232 in August 2013.