Recent Figures Show New Home Sales and Prices Drop in Sebastian
Posted on: May 06, 2013 07:34:03 AM
Closings of new homes dropped year-over-year in February in the Sebastian, FL market, and the decline was by a larger percentage than the January 2013. New home closings moved from 28 a year earlier to eight after the figure moved from 13 in January 2012 to 12 in January 2013.
A total of 241 new homes were sold during the 12 months that ended in February, down from 261 for the year that ended in January.
Out of 351 total closings, eight were of new homes, which makes up a smaller percentage than the 28 out of 300 total closings last year. Following a year-over-year increase in January, closings of new and existing homes also increased year-over-year in February.
Pricing and Mortgage Trends
The average price of new homes was $300,212 per unit in February 2013, which is down from $401,804 a year ago. This followed a 20.2% hike in January year-over-year.
Average mortgage size on new homes rose from $135,887 to $316,471. Average mortgage size on new homes went from $130,164 in January 2012 to $177,759 in January 2013.