New Home Prices Climb in Punta Gorda According to Recent Figures, Sales Decline
Posted on: Aug 08, 2014 11:44:10 AM
The Punta Gorda, FL market saw a drop in new home closings year-over-year in May, and the decline was by a larger percentage than the April 2014. New home closings moved from 28 a year earlier to 8 after the figure moved from 33 in April 2013 to 21 in April 2014.
A total of 245 new homes were sold during the 12 months that ended in May, down from 265 for the year that ended in April.
On a percentage basis, new home closings as a part of total closings decreased to 1.1% from 3.4% a year earlier. For new and existing homes, closings slid in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average price of new homes was $190,650, an increase from $159,996 a year earlier. This was on the heels of a 1.7% fall in April from a year earlier.
The average mortgage size moved to $90,000, down from last year's $104,191. Average mortgage size sank 14.3% in April 2014 from a year earlier.