New Home Sales Rise in Sebastian, Prices Fall According to Freshest Data
Posted on: Mar 06, 2014 07:39:36 AM
Closings of new homes in the Sebastian, FL market jumped year-over-year in December, and the percentage surge was better than November 2013, suggesting the market may be strengthening. New home closings saw a 35.0% hike from a year earlier to 27. This came after a 30.8% hike year-over-year in November.
A total of 324 new homes were sold during the 12 months that ended in December, up from 317 for the year that ended in November.
Of 394 total closings, 27 were of new homes. This is an increase on a percentage basis, as new home closings were 4.3% of total closings a year ago. After rising year-over-year in November, closings of new and existing homes dropped year-over-year in December.
Pricing and Mortgage Trends
Average price of newly sold homes had a 9.6% decline year-over-year to $220,562 per unit in December. This drop compares to a 10.5% hike in November year-over-year.
The average mortgage size on new homes moved north year-over-year in contrast to new home prices. In December 2013, the average mortgage size was $168,557, a 8.4% surge from a year earlier. In November 2013, average mortgage size gained 1.6% from a year earlier.