New Home Closings and Prices in Sebastian Gain According to Newest Figures
Posted on: Jul 06, 2014 07:34:02 AM
The Sebastian, FL market saw a rise in new home closings in April year-over-year, but the percentage boost was less than March 2014, suggesting the market may be leveling. There was a 13.6% rise in new home closings from a year earlier. In comparison, new home closings in the same month last year saw a 58.8% hike year-over-year in March.
A total of 370 new homes were sold during the 12 months that ended in April, up from 367 for the year that ended in March.
Out of all housing closings, new home closings accounted for 4.5%. A year ago, 4.0% of total closings were new home closings. Following a fall in March year-over-year, closings of new and existing homes climbed year-over-year in April.
Pricing and Mortgage Trends
The average price of new homes increased year-over-year in April to $222,677 per unit, a rise of 9.6%. This lift is smaller than the 11.5% hike in March year-over-year.
The average mortgage size on newly sold homes increased year-over-year along with the average price of new homes. In April 2014, average mortgage size climbed 29.0% from a year earlier to $192,541. In March 2014, average mortgage size on newly sold homes saw a 3.3% drop from a year earlier.