New Home Closings and Prices in Punta Gorda Drop According to Recent Figures
Posted on: Jul 06, 2014 07:30:00 AM
New home closings declined year-over-year in April in the Punta Gorda, FL market, but the percentage fall narrowed from that of March 2014, suggesting that the market may be stabilizing. New home closings saw a 24.2% fall from a year earlier to 25. This followed a 34.4% drop year-over-year in March.
A total of 305 new homes were sold during the 12 months that ended in April, down from 313 for the year that ended in March.
New home closings accounted for 3.4% of overall housing closings. They accounted for 4.1% of closings a year earlier. Following a period of little movement in March from a year earlier, closings of new and existing homes sank year-over-year in April.
Pricing and Mortgage Trends
In April, the average price of newly sold homes declined 9.1% year-over-year to $153,700 per unit. This fall is larger than the 2.2% decline in March from a year earlier.
Average mortgage size on new homes saw a fall year-over-year in contrast to prices of new homes. Average mortgage size dropped 19.2% to $109,343 in April from a year earlier. In March 2014, average mortgage size on newly sold homes saw a 11.8% drop from a year earlier.