New Home Sales Rise in Punta Gorda, Prices Fall According to Latest Data
Posted on: Apr 06, 2014 07:34:42 AM
In January, there was an increase in closings of new homes in the Punta Gorda, FL market year-over-year, and the market showed signs of strengthening as the percentage bump turned out sharper than December 2013. New home closings saw a twofold climb from a year earlier to 42. This came on the heels of a 13.3% climb year-over-year in December.
A total of 318 new homes were sold during the 12 months that ended in January, up from 297 for the year that ended in December.
As a percentage of overall housing closings, new home closings accounted for 7.9%. This is a boost from 4.6% of closings a year earlier. After dropping in December from a year earlier, closings of new and existing homes climbed year-over-year in January.
Pricing and Mortgage Trends
The average price of newly sold homes sank 30.9% year-over-year in January to $108,061 per unit. This drop is a drop off from the 41.7% decline in December from a year earlier.
For newly sold homes, the average mortgage size sank year-over-year in contrast to average price of new homes. The average mortgage size declined to $83,424 in January, marking a 37.2% decline compared with last year. In December 2013, average mortgage size fell 38.5% from a year earlier.