New Home Closings and Prices in Sebastian Climb According to Recent Figures
Posted on: Dec 06, 2013 07:43:43 AM
Closings of new homes climbed year-over-year in September in the Sebastian, FL market, but the market seemed to show signs of evening out as the percentage climbed was less than in August 2013. There was a 23.1% hike in new home closings from a year earlier. This was after the housing market saw a 76.5% boost year-over-year in August.
A total of 297 new homes were sold during the 12 months that ended in September, up from 291 for the year that ended in August.
New home closings made up 7.1% of overall housing closings. A year ago, new home closings made up 7.3%. Closings of new and existing homes rose year-over-year in September after also rising in August year-over-year.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes climbed year-over-year to $208,996 in September, up 16.1% from last year. This hike is smaller than the 26.4% gain in August year-over-year.
For newly sold homes, the average mortgage size grew year-over-year along with new home prices. In September 2013, average mortgage size rose 11.2% from a year earlier to $150,571. In August 2013, average mortgage size jumped 22.5% from a year earlier.