New Home Closings in Punta Gorda Rise, Prices Decrease According to Recent Figures
Posted on: Mar 06, 2014 07:34:56 AM
Closings of new homes in the Punta Gorda, FL market rose year-over-year in December, swinging up after a drop in November 2013. There was a 13.3% hike in new home closings from a year earlier. This was after the housing market saw a 3.8% decline year-over-year in November.
A total of 297 new homes were sold during the 12 months that ended in December, up from 293 for the year that ended in November.
Out of all housing closings, new home closings made up 6.7%. This marks a rise from 5.2% of total closings a year earlier. Following a year-over-year decline in November, closings of new and existing homes also declined year-over-year in December.
Pricing and Mortgage Trends
In December, there was a 41.7% drop year-over-year in the average per-unit price of newly sold homes, settling at $95,734. This drop compares to a 7.1% hike in November year-over-year.
For newly sold homes, the average mortgage size sank year-over-year in contrast to average price of new homes. The average mortgage size slid to $80,597 in December, marking a 38.5% fall compared with last year. In November 2013, average mortgage size gained 4.5% from a year earlier.